Deal-Making Attitudes Begin To Shift As Funding Options Decline
VC Investors Encourage Companies To Seek Partnerships
An AbbVie executive at Biocom’s partnering conference said small firms are beginning to adjust their expectations due to financial market conditions; deal-makers noted biotechs should see value beyond cash in pharma collaborations.
You may also be interested in...
Deloitte chief global economist Ira Kalish said in a Biocom webinar that the war in Ukraine increased existing macroeconomic uncertainty, which is keeping businesses and investors from deploying capital.
Both Atlas and Foresite Capital announced new funds focused on start-ups. Also, Flagship launched Vesalius with $75m in initial funding, Innoviva sold $225m in notes, Hookipa priced a $75m follow-on offering and job cuts were revealed by Epizyme, Flexion, Deciphera and Gemini.
AbbVie pays $130m up front with up to $870m in earnout potential for UCB spinout focused on SV2A modulators. BioNTech gets rights to preclinical TCR candidates for solid tumors from Medigene.