Novartis buys CoStim as big pharmas boost their cancer immunotherapy arsenals
This article was originally published in Scrip
Novartis has bought private US company CoStim Pharmaceuticals for an undisclosed sum in a transaction that demonstrates the increasing allure of cancer immunotherapy to big pharma as a therapeutic strategy.
You may also be interested in...
Private Company Edition: Immunocore’s $130m round kicked off a series of $100m-plus venture capital deals, including financings for Xilio, Akouos and Pliant. Also, VC investment in cell and gene therapies surged in 2019 and MPM launched two funds with $126 for early cancer research.
Five funds raised more than $1bn to back biotech firms; Arcus leads recent VC rounds with $107m GV-backed Series C; Celgene, Valeant sell notes to retire debt; and Alnylam cashes in on investor goodwill.
The firm’s potential new therapy for the negative symptoms of schizophrenia is now in the hands of the US Food and Drug Administration – some have concerns over whether the supporting data will be enough.