Nuvelution Puts Business Model Into Action With Teva/Austedo Deal
Focused on drug development risk-sharing partnerships, Nuvelution signs its first partnership, with Teva, to conduct Phase III development of recently approved Austedo for pediatric Tourette syndrome.
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Third-quarter biopharma financing, which totaled $12.5 billion, was dominated by follow-on public offerings, which represented virtually half the value. Acquisition activity was headlined by a major move by Gilead in the CART market. Five alliances were signed worth over $1 billion, led by a partnership between two key players, Merck & Co. and AstraZeneca.
A review of biopharma start-up deal-making and financing activity from July through September 2017, based on data from Strategic Transactions, showed that fundraising declined 18% from the previous quarter, however the number of acquisitions doubled to eight.
ProQR spinout Amylon gets started by licensing four central nervous system disorder candidates from its parent, while start-up Eyevance gets US rights to Nicox’s Zerviate.