Sosei CEO Says Recent $199m Equity Raising Will Help Pipeline Expansion
Japan-based Sosei's recent equity offering made its shareholder base more international and will help finance the evolution of the group's proprietary pipeline.
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Japan-based Sosei is building up its portfolio of in-house assets on top of technology and molecule licensing deals as it looks to create value over the next few years following the acquisition of Heptares, say executives.
Japanese company Sosei conducted a master stroke last year when it acquired UK biotechnology company Heptares as its in-house R&D engine. Deal after quality deal has ensued, and Sosei's share price has rocketed by more than 400%. Scrip's Sukaina Virji spoke to Sosei's COO – and CEO-elect – Peter Bains to find out what happens next.
With Scrip still reeling from the news earlier this week that Pfizer and Allergan have called off their $160bn mega-merger, news broke that former darling of the UK biotech scene Heptares, now a wholly-owned subsidiary and the 'R&D engine' of Japanese company Sosei Group Corp., has secured a notable licensing deal with Allergan. Scrip caught up with Heptares CEO Malcolm Weir to get his take on the fall of PfizerGan (PfAllergan?), and of course the small matter of securing a partnership deal worth up to $3.34bn plus potential royalties.