Deal Watch: Seattle Genetics' Controversial Collaboration With Immunomedics Topples
A licensing deal between the two cancer-focused biotechs falls apart amidst investor unrest at Immunomedics. Novartis opts to license Conatus' Phase II NASH candidate and picks up a CAR-T candidate from Celyad, while Shire adds to its dry eye franchise in deal with Parion.
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Finance Watch: Inhibikase IPO Brought 2020 US Total To 86
Public Company Edition: The new year started with two companies signaling plans for significant near-term initial public offerings, following Inhibikase’s launch as the last IPO of 2020. Other recent financial highlights include layoffs at Calithera and Regenxbio’s $200m Zolgensma royalty sale.
Seattle Genetics Diversifies Beyond ADCs With Cascadian Acquisition
The biotech already was looking to move into solid tumors, particularly breast cancer, with its antibody-drug conjugates, but now will take over a promising oral candidate in pivotal studies in HER2-positive breast cancer.
Finance Watch: Pandion's $55m Series A Funds Localized Bispecifics For Autoimmune Diseases
Pandion, led by former Pfizer SVP Anthony Coyle, launched in 2017 to exploit immuno-oncology advances for autoimmune and inflammatory diseases; the firm's Series A follows a record-breaking year for biopharma venture capital. In public company financings, AveXis and others seek cash to fuel R&D.