UK Biotechs Look Destined To Remain Bit Players
GW Pharma And Kymab Sold In Less Than A Month
Another promising British-based company, GW Pharma, has been acquired, this time by mid-sized US player Jazz. Is it a pipedream that a UK biotech could be in a position to pull off a $7bn takeover of its own or does it really not matter?
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Priced at a 50% premium to GW’s value, the deal will reduce the percentage of Jazz’s drug sales coming from Xyrem, provide double-digit revenue growth and expand the R&D pipeline to 19 programs.
The ABV 8 fund will invest $15m to $30m per company across the range from start-ups to development-stage companies.
The UK biotech is set for a NASDAQ launch which could propel it to its first commercial launch by 2022.