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.
You may also be interested in...
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.
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.
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.