PanGenetics' NGF Antibody Sale Illustrates Index's Asset-Focused Strategy
This article was originally published in Start Up
Executive Summary
The $170 million up-front that Abbott Laboratories ponied up for PanGenetics BV's Phase I PG110 anti-nerve growth factor antibody would rank as the largest down-payment ever for a Phase I project. But even though at first glance the mid-November deal resembles an alliance, it is in fact the acquisition of part of PanGenetics itself, and reveals founding investor Index Ventures' intriguing asset-focused strategy.