Financings Of The Fortnight: Idenix To Forge Ahead On HCV Combo After Novartis’ Departure
This article was originally published in The Pink Sheet Daily
Plus news on recent financial activity by Mersana Therapeutics, Hyperion Therapeutics, Atterocor and Exelixis.
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Bristol-Myers Squibb has halted study of its Phase II nucleoside polymerase inhibitor for hepatitis C due to one trial patient suffering heart failure. It remains unclear if that event is related to the study drug, but do repeated toxicity issues with “nucs” indicate a class effect?
The market for new company creation in the biopharma sector remains healthy and poised to continue fostering the establishment of start-ups, based on a new In Vivo study of the strong initial investments that pharma and biotech companies receive.
In the top May alliance by deal value, Amphista Therapeutics and Bristol Myers Squibb aim to discover and develop targeted small-molecule protein degraders by leveraging Amphista's proprietary Eclipsys platform. BMS gets exclusive global rights to resulting products. Amphista will receive a $30M upfront payment, up to $1.25B in performance-based milestone payments, payment for a limited expansion of the collaboration, as well as royalties on global net sales.