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Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.
While M&A-hungry investors were disappointed in no sale, uniQure now aims to pivot toward Huntington’s – and sees Zolgensma as an example to follow.
Bristol-Myers Squibb Co. has bolstered its immuno-oncology ambitions by acquiring IL-8 focused Cormorant Pharmaceuticals AB, the 4-year old Swedish biotech. Cormorant’s shareholders are getting $95M up front with the promise of a further $425M if milestones are achieved.
Despite its failures, disease management remains a compelling need, perhaps because it's so clear that payers and providers require something to organize the increasingly expensive fragmentation of the health care system.
- Large Molecule