Sorrento signs option for all-stock acquisition of Igdrasol run by developers of Abraxane
This article was originally published in Scrip
San Diego-based Sorrento Therapeutics signed an exclusive option to acquire Igdrasol, a private company in Fountain Valley, California that develops second-generation chemotherapy agents and is run by former Abraxis Bioscience employees involved in the creation of Celgene's blockbuster Abraxane.
You may also be interested in...
Public Company Edition: Codiak, Kiromic, Aligos and Opthea have fallen below their initial public offering values, while Tarsus and Praxis are trading higher. Also, 5AM, MPM and Cormorant took biotech SPACs public and Evotec led recent non-IPO financings with a €250m private placement.
Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.
Biopharma executives discussed their strategies for treating chronic diseases during the Cell and Gene Meeting on the Mesa, including R&D and regulatory considerations.