Celgene’s Bet On Abraxis Helps Spur Host Of Nanomedicine Start-Ups
Second-generation therapeutics are moving into the clinic following Celgene’s successful gamble on Abraxane. New nanobiotechs proliferate, but an industry burned by other promising technology revolutions remains somewhat wary of investing in early-stage firms.
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As Roche’s reported interest in buying rare-disease specialist Alexion faded, new suitors popped up for oncology specialist Onyx. Plus news on deals between Spectrum and Talon, Pfizer and Sequella, Medtronic and Amgen, and a new direction for Rexahn.
Spectrum gains an approved drug with the deal and aims for label expansion. Talon’s high-profile investors are counting on an increase in Spectrum share price and post-acquisition milestones to break even.
The biotech has a three-pronged strategy to double revenues by 2017: continue to expand core multiple myeloma product Revlimid, bring new blockbusters online, and develop its early stage pipeline through deals.