Eyeing Both A Partnership And An IPO, Aragon Takes $42M Series C
This article was originally published in The Pink Sheet Daily
A well-connected fund that invests on behalf of a group of high-net-worth investors provides cash to complete a Phase II trial on prostate cancer drug ARN-509, and bring a breast cancer drug into the clinic.
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Rather than continue down the path to a public offering, Aragon sells to J&J for a hefty price. Also, MedImmune strikes a diabetes and obesity deal with NGM, Teva buys respiratory drug maker MicroDose, and Sanofi allies with the Curie Institute to study ovarian cancer.
The buyout gives J&J Aragon’s androgen receptor inhibitor similar to Medivation’s Xtandi, a potential blockbuster and competitor. In the process, Aragon’s investors will back new spinout Seragon, created to house an estrogen receptor blocker.
Plus news on recent financings by Regulus, Aragon, Antabio and Asceneuron.