Adimab Inks Discovery Deals With Merck And Roche
This article was originally published in The Pink Sheet Daily
The biotech’s first alliances signal it is ready to more widely partner its novel antibody discovery platform; just don’t expect it to build a pipeline.
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Highlights from the Q2 2009 review of start-up dealmaking: Fundraising in the biopharma, medical device, and in vitro diagnostics industries totaled $864 million--a 25% increase from Q1 2009--with most of the money, 54% or $465 million, coming out of the device industry, which saw only $127 million the previous quarter. There was one acquisition--PPD paid $14.5 million in cash for Magen BioSciences. In the most significant alliance, valued at up to $527 million, GSK got rights to three compounds from Concert Pharmaceuticals, including two in the preclinical stage, which was the most popular phase of development on Q2 alliances.
Celgene will get exclusive use of Quanticel's single-cell genomic analysis to tweak its clinical pipeline, and it also has exclusive options to acquire the venture-backed start-up.