Cullinan To Search For Oncology’s Diamonds In The Rough
With a business model based on portfolio management, the new company backed by MPM Capital plans to de-risk novel cancer therapies for out-licensing upon proof-of-concept or other value-creating inflection points.
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Private Company Edition: The Novo Holdings Repair Impact Fund wants to fund another round of antimicrobial resistance efforts. Also, Atlas Venture raised a new $400m fund, Everest closed a $310m series C round and Cognition received a $78.5m grant.
Genentech will pay $120m up front to co-develop Xencor’s preclinical IL-15 candidate; deal also includes IL-15 R&D. Taiho licenses lung cancer candidate to Cullinan; Celgene and Triphase partner again.
But Q4 was the third sequential quarter with a decrease in financing totals. A review of biopharma start-up dealmaking and financing activity from October through December 2017, based on data from Strategic Transactions.