Boost For European Biotech As €345m Fund Opens
Edmond De Rothschild Investment Partners unveils the largest life science and medical device venture fund to be raised in Europe. Olivier Litzka tells Scrip that the continent can now boast a public market machinery that contributes to potentially lucrative exits for investors.
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Allergan is paying $125m for Chase Pharmaceuticals and its Alzheimer's disease candidate CPC-201 that has completed Phase II testing. The modest upfront reflects the Phase III graveyard that Alzheimer's disease represents. Chase is led by two former Allergan executives.
Allergan will pay a huge premium – up to $1.7bn in a milestone-heavy deal – for Tobira and $50m up front for the preclinical startup Akarna to expand its gastrointestinal franchise into the potentially lucrative NASH market.
The fresh cash injection will fund Phase II studies evaluating the UK firm's 12-month treatment for diabetic macular edema.