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.
Taking full control of partner Translate Bio means that Sanofi is the only big vaccine company with a wholly-owned mRNA platform in-house but observers say it is too early to declare that the Paris-headquartered group has bagged itself a bargain.