Finance Watch: Tetraphase Reorganization Follows Troubled Antibiotic Commercialization Path
Tetraphase's plan to downsize may put the company on the same path as now-bankrupt Achaogen. Also, Bain raises $900m for its second life science fund, Provention calls off post-ADA offering and Oncologie raises $80m series B.
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Pharma-backed investment fund to combat antimicrobial resistance aims to find Phase II-ready programs, but can’t generate a constant flow of innovation without better ‘pull’ incentives, industry says.
The industry-backed investment fund to combat antimicrobial resistance hopes to be operational by end of year and begin assessing programs to invest in during the first quarter of 2021.
Public Company Edition: Outside the US, Zai Lab raised more in its recent Hong Kong initial public offering – $766.4m – than PMV, Prelude, Taysha, Graybug and Greenwich combined. Also, Gilead priced debt to fund its $21bn Immunomedics buy and ADC Therapeutics raised $204m.