Financings of the Fortnight Comes Bearing Gifts
This article was originally published in The Pink Sheet Daily
Plus recent news on Amarin, Moderna Therapeutics, ArmaGen and Flexion
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Now focused on two key programs in its osteoarthritis portfolio, the Massachusetts drug developer will align itself for a more traditional exit rather than a Big Pharma partnership.
Big Pharma, unable to exploit its own research productivity, is increasingly seeing itself as a supplier of discovery assets. That's bad news for discovery-based biotech, but good news for companies with a talent for faster, more predictable development capabilities. Since its formation in the fall of 2007, Flexion Therapeutics has apparently had no trouble getting Big Pharmas to let them review their shelved compounds, 130 or so of them from eight to 10 companies. Flexion, built around Lilly's fast-to-proof-of-concept strategy, is attempting to take advantage of the trend; it's in-licensed five products from three Big Pharmas.
Emerging Company Profile: Switzerland-based Anjarium Biosciences AG has successfully raised $61m in a series A financing that will fund expansion of its novel proprietary platform and development of a nascent pipeline of non-viral gene therapies.