Latest Pharma-VC Experiment: Arteaus Gets $18M For Migraine Drug Licensed From Lilly
This article was originally published in The Pink Sheet Daily
Executive SummaryAtlas Venture and OrbiMed Advisors have launched a virtual company to support development of a single asset, which Lilly can buy back after a Phase II trial.
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As part of a new R&D investment approach, Eli Lilly has partnered with TVM Capital and HealthCare Ventures, which have raised $250 million and funded the start of eight single-molecule companies. Corporate Business Development VP Darren Carroll discussed how the company’s venture initiative has evolved during Elsevier’s Pharmaceutical Strategic Alliance conference Sept. 25.
One of two venture firms signed up to run an Eli Lilly “mirror portfolio” of single-asset companies, venerable TVM Capital has made significant changes to get its new model off the ground.
Plus news on recent financings by Foundation Medicine, Ultragenyx, Labrys Biologics, Solstice Biologics and Sarepta Therapeutics.