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 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.
New Zymeworks CEO Ken Galbraith is laying off at least 25% of the company's staff, including 50% of the senior management team, as the firm looks to advance pivotal trials of its HER2-targeted bispecific antibody zanidatamab.