Oxford BioMedica CEO To Hire More People, Expects More Deals Following Gene Therapy Pact With Axovant
Britain's Oxford BioMedica has signed a $842m deal with US-based Axovant Sciences to commercialize its next generation gene therapy for Parkinson's disease.
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Termination of nelotanserin, a small molecule licensed from Arena, in Lewy body dementias comes after a dramatic shift toward gene therapy.
Biopharma financing for the second quarter totaled $12.4 billion, a 25% decrease from Q1 2018. Meanwhile Q2 merger and acquisition deal value reached $101 billion, three-quarters of which came from Takeda's $79 billion takeover of major European player Shire. Alliances – totaling $13.8 billion (a significant decline from the previous quarter's $30.7 billion) – featured large partnerships in the antibody space, the biotechnology industry sector with the highest dollar volume.
Biopharma start-ups had a record-breading quarter in terms of fundraising. A review of biopharma start-up deal-making and financing activity from April through June 2018, based on data from Strategic Transactions.