Inrebic Approval Is A Boost For Myelofibrosis And Celgene's Buyer Bristol
Investors in Impact Biosciences, which sold the selective JAK2 inhibitor to Celgene for $1.1bn up front, could double their money with milestone fees based on fedratinib's approval.
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The accelerated approval for the JAK2/IRAK1 inhibitor, CTI’s first commercial product, carves out an underserved market accounting for about one-third of the US myelofibrosis population.
Ventus Therapeutics raised a $140m series C while Endeavor Biomedicines brought in $101m in series B cash. Also, Twist Bioscience grossed $250m in a follow-on offering, BioMarin raised $110m when it sold a priority review voucher and Nuvectis, TC BioPharm launched IPOs.
CEO Caforio used the J.P. Morgan stage to try to assuage Celgene investors who recently lost out on a $9 CVR under the buyout, playing up the long-term promise of the combined company.