Provention Builds On J&J Disease Interception Model
Founded earlier in 2017 with a plan of making quick "go/no-go" development decisions based on objective data, Provention taps into Johnson & Johnson for a pair of IBD candidates.
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Through its Provention collaboration, Amgen partnered with the team that worked on AMG 714 at Celimmune, which the big biotech bought in 2017. Lilly will partner with NextCure to use the latter's FIND-IO platform for immuno-oncology drug discovery.
Public Company Edition: Nine more biopharma companies launched IPOs in the US in July, bringing the 2018 total to 45 first-time offerings – three more than in all of 2017. Bluebird's $632.5m offering leads recent follow-on public offerings.
MeiraGTx was the first to go public in the US in June after six drug developer IPOs launched in May. With returns for this year's first-time biopharma offerings more than doubling from 9% at the end of April to 23.6% as of June 8, four new companies have filed and six have set terms for future IPOs.