No Longer Aiming To Partner At Proof-of-Concept, Flexion Raises $20M For Late-Stage Trials
This article was originally published in The Pink Sheet Daily
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.
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Following guidance from the agency on injectable osteoarthritis drug FX006, Flexion plans to file first with single-dose studies instead of waiting for longer-term data for repeated doses. This will speed up initial Phase III work by one year, the firm says.
An analysis of alliance deals in 2013 shows pharmas’ continued reliance on heavily structured deals, a strategy that has often frustrated biotechs looking to partner. But the appetite for new IPO listings may be giving them more options, provoking competitive deal terms from licensors.
Flexion Therapeutics had the pedigree, determination, and corporate connections to source and speed to clinical proof-of-concept its in-licensed pharma assets, and it planned to build a business around getting paid to do so. But a funny thing happened on the way to the bank.