Deals Of The Week: Amgen/Micromet, Celgene/Avila, Watson/Ascent
Along with three biotech acquisitions, the week in deal-making also saw the licensing of a new hepatitis C candidate with a different mechanism of action, further consolidation in the animal health field, and the end of Ipsen and Santhera’s collaboration on Alzheimer’s drug fipamezole.
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Funded in part by the Israeli government, BioLineRx believes it is about to score big with a cardiology drug being developed under FDA’s regulatory pathway for devices, as well as a schizophrenia candidate that could improve patients’ cognition.
With $5.7 billion hostile takeover attempt for next-generation gene sequencing powerhouse Illumina, Roche says it is uniquely situated to push sequencing into the routine clinical diagnostics space. But Illumina is resisting, which could push up the price and draw out the process.
Celgene will acquire the Massachusetts biotech for $350 million upfront plus $575 million in potential milestones related to Avila’s lead compound as well as other compounds to emerge from its technology platform.