Medivir Plans For A Post-Simeprevir Future
The hepatitis C therapy simeprevir may have been a commercial success for the small Swedish biotech Medivir, but as competition increases and sales decline, the company is planning for what comes next.
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Medivir, which recently reinvented itself as a solely oncology-based R&D company, is buying two programs for TetraLogic which will subsequently 'terminate all remaining employees'.
Medivir has decided a sale of its commercial arm BioPhausia makes better business sense than a separate listing, and is selling the unit to Karo Pharma for just over $100m.
Trek Therapeutics expands its HCV pipeline by in-licensing polymerase inhibitor from Medivir. ProMetic gains cash, tax offsets and physical plant by acquiring fellow Canadian firm Telesta for pennies per share, while Cell Medica inks its second academic cancer immunotherapy collaboration of 2016, this time with University College London.