Sucampo Looks To Add Heft With Vtesse Acquisition
In search of a new direction since shelving cobiprostone last summer, Sucampo acquires Cydan-backed startup and Niemann-Pick disease candidate VTS-270, now in a pivotal Phase IIb/III study.
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Mallinckrodt is to acquire Sucampo Pharmaceuticals for about $1.2bn. The deal brings it a short-term sales boost from Amitiza, although the constipation treatment only has a few years left before generic competition hits. Longer-term hopes lie in two Phase III products for rare diseases.
Start-up Impact's new structured financing – its second fundraising event this month – will pay out in increments as fedratinib nears the market. Also, Ablynx closed its $200m US IPO; Chi-Med follow-on brings in $262m; and VCs gives Cydan $34m to launch new companies.
A review of biopharma start-up dealmaking and financing activity from April through June 2017, based on data from Strategic Transactions, showed that fundraising activity more than doubled compared with the first quarter.