Cancer Deals Dominate 2011 Start-Up Partnerships.
This article was originally published in Start Up
Among the partnership trends of the year, three stood out: oncology compounds, a search for more certain exits and the role reversal of Big Pharma as out-licensers.
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START-UP's 2011 Life Science Venture Capital Survey: Biopharmaceutical Investors Let Some Sunshine In
In START-UP's first life science venture survey, biopharma investors have plenty to complain about -- and they do -- but their generally positive outlook stands in contrast to that of their peers focused on medtech. Includes sidebar, "VCs Survive Amid Few Exits And Many Goodbyes."
Forma Therapeutics Inc.'s licensing agreement with Genentech Inc., announced June 27, is a creative twist on option-style dealmaking that could bring returns to the start-up's venture investors while skirting the traditional exit routes of acquisition and public offering. The deal illustrates one path highly innovative platform-focused biotechs could take when they are trying to satisfy the demands of venture backers while remaining focused on their strengths in early stage drug discovery.
Sangamo licensed Biogen zinc finger protein transcription factor candidates in an alliance worth over $2bn. Exercising an option it gained in 2017, Takeda bought celiac disease-focused PvP Biologics for up to $330m in earn-outs. A strong showing of IPOs prompted biopharma financing to increase from last month.