AbbVie Expected To Ditch Abicipar After US FDA Setback
With a complete response letter for wet AMD drug abicipar, AbbVie is expected to move on from the drug acquired with Allergan. Molecular Partners now seems inclined to focus on IO, virology.
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The merger closed in May, so the second quarter earnings report will be the first presentation of the combined company’s performance and outlook.
The withdrawal of the EU filing for abicipar pegol will fuel speculation that Allergan parent AbbVie is indeed ditching the potential treatment for wet AMD. US regulators have already said they won't approve the drug.
Poseida, Nkarta and Inventiva raised $224m, $252m and $107.7m, respectively. Also, Forbion raised €185m ($208m) of a new €250m fund and Blackstone closed the last $1.2bn of its $4.6bn fund for public and private company deals, and Ascendis led recent follow-ons with a $569.2m offering.