New GSK Spin-Out Targets Hearing Loss
This article was originally published in Start Up
Executive Summary
The second spin-out to emerge after GSK's 2010 exit from neurosciences-related R&D, Autifony Therapeutics may receive up to 10 million pounds in Series A funding to develop preclinical assets for hearing disorders.
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Start-Up Quarterly Statistics, Q3 2011
Biopharma start-ups raised $299 million and just over half were Series A rounds. Device companies brought in $134 million, while two diagnostics firms raised $10 million total. Ophthalmology was the most popular theracat for biopharma alliances. Just one acquisition involving a start-up took place.
Pharmaceutical/Biotechnology Deal Statistics Quarterly, Q3 2011
Biopharma financing dropped in Q3 2011 to $1.3 billion, down from $6.3 billion in Q2. There were 20 M&A deals that totaled $30.9 billion, attributed mainly to the $27.7 million merger of PBMs Express Scripts and Medco. Almost a quarter of the alliances penned were for preclinical assets.
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