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?
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced February 2020.
Device financing during 2019’s final quarter totaled $1.6bn, a substantial decrease from Q3’s $4.05bn. Merger and acquisition activity, almost doubled from the previous quarter reaching $6.1bn; Stryker’s 4.7bn takeover of Wright Medical was the only billion-dollar transaction. Financings by diagnostics/research players totaled $1.3bn (the lowest quarter of the year) and eight companies were acquired, five of which together were valued at $981m.