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Deals among domestic Chinese biotechs are growing fast, reflecting a need to huddle up amid tightening scrutiny over biotech deal-making and an unusually competitive immuno-oncology market.
Building on a leading position in anti-infectives research, Evotec aims to develop a new class of antibacterials based on cystobactamids, which are found in slime bacteria and have potent activity against serious bacterial pathogens.
When buying Loxo, Lilly highlighted the importance of LOXO-292, a first-in-class oral RET inhibitor, rather than the already-approved Vitrakvi, perhaps knowing that partner Bayer was going to be exercising an option to take full control of the TRK inhibitor.
BioMarin’s focus on rare diseases and gene therapies and expected financial growth make it a logical acquisition target for almost any large pharma, though Biogen, Amgen and Regeneron also offer a beneficial fit for many.
News of 5AM's two latest venture funds follows the launch of Longevity Vision Fund as well as LA BioMed's and RUNLABS’ announcements that they will open new incubators in 2019. Also, Passage Bio launches with $115.5m, but the largest recent VC deal was HaiHe's $146.6m financing.
Already having launched several portfolio companies, Roivant goes a step further by spinning out CNS specialist Arvelle from Axovant. BI and IBM will incorporate blockchain technology in clinical trials, while AbbVie licenses multiple myeloma candidate from TeneoBio.
Cancer drug-developer Black Diamond emerges from stealth mode with Series A and closes Series B in the same month, while aging-focused Juvenescence closes its initial tranche and looks complete Series B by the end of the quarter.
Argos Therapeutics lands in the hands of Genexine and SCM Lifescience after the US immunotherapy firm was put up for sale by the Delaware bankruptcy court. The Korean biotechs plan to use the company’s cGMP facilities and experience in large US Phase III trials to accelerate their global market entry.
Clinigen's planned purchase of US rights to Proleukin will give it global ownership of the IL-2 drug.
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