Finance Watch: Lilly Cuts 3,500 Jobs Globally To Drive Growth
Lilly will save $500m annually starting in 2018 after $1.2bn in layoff-related costs to reinvest in new products. Also, Cytori halves its headcount; VC OrbiMed closed a $551m Asia fund; and Insmed capitalizes on positive data.
You may also be interested in...
Private Company Edition: New capital for health care and life science innovations include a fund for royalty deals, additional anti-infective funding, early-stage money and public health-focused cash. Also, Day One reveals a $130m series B venture round and Notch closes an $85m series A round.
The new year starts with a strategic shift by Intrexon. Also, Roivant and Sumitomo Dainippon launch Sumitovant, Melinta reorganizes through Chapter 11 bankruptcy, Acorda arranges debt relief and CF PharmTech raises a $90m series E round.
Scrip spoke with Managing Director Julie Sunderland about Biomatics' new $300m fund. Also, Silicon Valley Bank reveals its surprising Leerink buy, Perceptive Advisors raises $675m, Roivant brings in another $200m, and cell and gene therapy financings surge in the third quarter.