Deal Watch: Big Pharmas Lead Hectic New Year Deal-Making Pace
J&J Innovation's spate of deals led a busy week of deal-making involving many big pharmas. Sanofi exited its inhaled insulin partnership with MannKind, Merck collaborated with Quartet and Complix, Roche partnered with and helped finance C4, and Pfizer signed an immuno-oncology combo trial agreement with Syndax.
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FDA’s unusually specific request suggests continued worries about safety of MannKind’s inhalable insulin; large trial (8,000-10,000 type 2 diabetics) has a variety of goals.
J&J’s new London innovation center has just opened and Boston, San Francisco and Shanghai sites are soon to follow. A J&J executive providing an update in NY faced questions from a somewhat skeptical audience of potential customers, revealing nuances and new information about how the centers will operate.
Good news in the biopharma industry and the US economy gave public drug developers the boost they needed to raise cash, including Karuna’s $750m offering. Private company financings slowed during the second week of August, but Prellis and Vector BioPharma raised venture capital.