Massachusetts Institute of Technology
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The Roche affiliate doubles the potential monetary value of partnership focused on PROTAC technology in a range of therapeutic areas. Cardinal sells off Chinese business for $1.2bn, while Novartis licenses Homology’s gene-editing technology.
October was an active fundraising month for both start-up biopharma companies and more established privately held firms, ranging from $3m for Appili's drug for anaerobic infections to $270m for Harmony's rare disease programs.
Though vastly underreported, new cases of Lyme in the US total more than 300,000 a year; its incidence now exceeds infections for far more visible conditions like HIV. A higher profile for Lyme is hobbled by a slow and distorted institutional response, especially among clinicians who disagree on whether Lyme is one disease or a complex constellation of many – much like cancer, but without the commitment.
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
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