Avalon to reinvest in early-stage assets as Genentech acquires Afraxis license
This article was originally published in Scrip
Now that the small San Diego, US biotechnology company Afraxis has signed a global licensing agreement worth up to $187.5 million with Roche's Genentech unit, it will cease to exist as a drug discovery firm, but its "dendritic spine" lab will live on as a third-party service provider.
You may also be interested in...
Roche has partnered with Regeneron and Atea, but the company continues to leverage its long legacy in infectious diseases to identify good treatment options for the novel coronavirus.
While Amgen said the Phase III GALACTIC-HF results for omecamtiv mecarbil did not meet its high expectations for the heart failure candidate, Cytokinetics sees a path to treating certain patients.
Olema launched this year’s 76th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.