Recent Financings Of Private Companies, May 2012
This article was originally published in Start Up
START-UP's comprehensive review of emerging life science companies that have received venture funding during the month, including companies within the in vitro diagnostics, medical devices, pharmaceuticals, and research/analytical equipment & supplies sectors.
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In the top April alliance by deal value, Jazz Pharmaceuticals acquired exclusive global development and commercialization rights to Werewolf Therapeutics' WTX-613. Preclinical WTX-613 is an engineered IFN⍺2b cytokine pro-drug that is activated specifically within the tumor microenvironment where it can stimulate IFNα receptors on cancer-fighting immune effector cells. Jazz expects to submit an IND application to the FDA for WTX-613 in 2023. Jazz paid $15M up front and Werewolf is eligible to receive development, regulatory and commercial milestone payments of up to $1.26bn, plus royalties.
During Q1, biopharma merger and acquisition value reached $9.9bn and drew in $51.2bn in potential deal value from alliances. Device company M&A values reached $4.6bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $52.5m.
During Q1, biopharmas brought in an aggregate $17.9bn in financing and device company fundraising totaled $2.2bn; while in vitro diagnostic firms and research tools players raised $1.5bn.