Finance Watch: Intrexon Reorganizes, Raises Cash And Becomes Precigen
The new year starts with a strategic shift by Intrexon. Also, Roivant and Sumitomo Dainippon launch Sumitovant, Melinta reorganizes through Chapter 11 bankruptcy, Acorda arranges debt relief and CF PharmTech raises a $90m series E round.
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Public Company Edition: Among other recent large financings, BridgeBio Pharma launched a $650m note sale, CureVac closed a $517.5m follow-on offering and Revolution Medicines raised $260.9m.
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.