Big Pharma Switch Pitch To Attract Cash-Rich Biotechs
Money Alone Will Not Swing The Deal
With the biotech sector awash with public and private capital, companies can carry on longer without needing to link up with a bigger player. Big pharma C-suite leaders have been discussing how their firms sweeten potential deals at BIO Digital.
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The gene therapy specialist's CEO Sheila Mikhail tells Scrip she is excited to be getting access to the German group's late-stage clinical and operational expertise while keeping AskBio's entrepreneurial culture and carrying on as an autonomous company on an arm’s-length basis.
After buying BlueRock Therapeutics outright last year, the Leverkusen-headquartered group has put down $2bn up front to acquire another cell and gene therapy specialist in Asklepios BioPharmaceutical.
The pipeline to treat the neurological disorder, which is characterized by uncontrolled rapid and repeated movements or sounds, is very thin but a couple of biotechs either side of the Atlantic are making progress.