AstraZeneca Likes Sound Of Silence's Science
UK Biotech Gets $80m Upfront
The UK major is getting access to Silence's small interfering RNA (siRNA) platform while the London-based biotech is getting further validation of its technology and a considerable pile of cash.
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Buoyed by belief in its strengths, the UK biotech sector has defied the pandemic over the last three months – but smaller firms are still strapped for cash.
Public Company Edition: After an initial hit to valuations from COVID-19, massive amounts of money have been raised by drug developers, such as argenx with a $862.5m stock sale. However, only two IPOs launched in the US in May, including ADC with a $267m offering.
During Q1, biopharmas brought in an aggregate $13.8bn in financing. M&A value reached $6.9bn, the majority from Gilead Sciences $4.9bn purchase of immuno-oncology firm Forty Seven. Alliances fetched $35bn in potential deal value, dominated by many Big Pharma tie-ups led by a $4bn discovery and development collaboration between AstraZeneca and Silence Therapeutics for siRNA therapeutics.