Chase Buys H&Q: Good News for Biotechs
This article was originally published in Start Up
Some observers have predicted that H&Q's entrepreneurial, risk-taking culture would have trouble meshing with the more conservative Chase. Dennis Purcell, managing director of H&Q's healthcare division doesn't seem concerned and says that the working assumption is that it will be business as usual for his group. If anything, says Purcell, access to Chase's resources will ultimately benefit Chase's clients.
You may also be interested in...
Formed by Kalamazoo-based Pharmacia alumni, AureoGen Biosciences Inc. is genetically engineering cyclic peptides to create second-generation, resistance-proof anti-infective and anti-fungal therapeutics.
Pain seems as close to a sure bet as the pharmaceutical industry has to offer. Forecasts call for the worldwide analgesic market, already $38 billion in 2002, to grow at a 20% annual clip, nearly doubling to $75 billion by the year 2010. For new drug developers, pain also has the advantage of offering clearly definable endpoints-less pain-and a relatively short duration for clinical trials. No surprise then that more than 200 companies have a hand in developing or marketing pain therapeutics. Among them, the three young companies profiled here-AlgoRx Pharmaceuticals Inc., Algos Therapeutics Inc., and TheraQuest Biosciences LLC.
Ambrx is using its technology for engineering proteins with novel amino acids--beyond the 20 that oocur in nature--to enhance the properties of proteins whose potential therapeutic uses, as well as liabilities, are known.