Deal Watch: Pfizer, Biogen Partnership One Of Many As JPM Gets Underway
Although there was no major acquisition starting out the J.P. Morgan Healthcare Conference, the deal-making flow has been steady. Pfizer licensed a neurodegenerative disease candidate to Biogen, while also selling Axsome rights to reboxetine in narcolepsy and fibromyalgia. Biogen signed a neurology R&D collaboration with CAMP4 as well.
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Chinook launched less than two years ago to develop precision medicines for chronic kidney diseases and will have three drugs in the clinic in 2021, including a Phase III candidate for IgA nephropathy.
Public Company Edition: ORIC’s initial public offering is the third by a drug developer in April and the 12th in 2020. Also, Pluristem garnered €50m from the European Investment Bank.
Private Company Edition: Immunocore’s $130m round kicked off a series of $100m-plus venture capital deals, including financings for Xilio, Akouos and Pliant. Also, VC investment in cell and gene therapies surged in 2019 and MPM launched two funds with $126 for early cancer research.