Thinking Long-Term, Novo Ventures Finds Itself On A Hot Streak Of Quick Exits
This article was originally published in The Pink Sheet Daily
Despite a strategy that encourages holding stakes when other firms might sell, the evergreen fund has been generating quick returns.
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The two-tranche financing, backed 50% by new investor Novo Ventures, will enable the private firm to evaluate early partnering opportunities from a position of financial stability.
In late September, Reata Pharmaceuticals Inc. dealt its Phase IIb chronic kidney disease candidate bardoxolone to Abbott Laboratories Inc., and the $450 million down payment easily dwarfs those on other deals around development-stage drug candidates, going back as far as the eye can see.
The Big Pharma would gain ex-U.S. rights to the potentially disease-modifying treatment for chronic kidney disease, excluding some Asian markets.