BioNotebook: Aegerion lawsuit, Juno funding, Concert IPO, Salix layoffs
This article was originally published in Scrip
Several biotechnology and specialty pharmaceutical companies announced deals and corporate updates during the week of the 32nd Annual JP Morgan Healthcare Conference in San Francisco, which ended on 16 January, and a lot of news was lost in the hubbub of the yearly kickoff event for the biopharma industry. Companies probably are happy to have some news ignored, such as shareholder litigation and employee layoff notices. But in a closely-watched industry with skyrocketing public company values, relevant information eventually comes to light.
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Aegerion and QLT will unite to create a new company dubbed Novelion in a deal that could help both companies solve some long-standing issues.
Private Company Edition: While venture capital invested in the industry dropped in 2019, the number of deals rose as investors funded more early-stage VC rounds. Money continues flowing to large deals as well, including $105m for ALX Oncology and $98m for CANbridge.
Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.