Cerevel Launches With Pfizer's Early CNS Assets And $350m From Bain Capital
Pfizer ended its early neuroscience R&D work earlier this year, but will retain a 25% stake in the start-up, which may begin a Phase III Parkinson's disease study in 2019. This is the second time Bain has financed a Pfizer spin-out.
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The company will focus on core therapeutics areas like oncology and cardiovascular disease, but left open the possibility of future work in neuroscience with a genetic basis for drug development.
At $10.9bn, biopharma financing was at its lowest quarter of the year. GSK’s $5.1bn acquisition of oncology player Tesaro led M&As. And 13 partnerships exceeded the $1bn mark, led by two agreements focused on RNAi.
A review of biopharma start-up dealmaking and financing activity from October through December 2018, based on data from Strategic Transactions.