Financings Of The Fortnight: Corporate Venture Plays Increased Role In Series A Financings
This article was originally published in The Pink Sheet Daily
More than one-quarter of biopharma or diagnostic start-ups that raised A rounds in the past 18 months had participation by one or more corporate venture arms. Plus news on recent financings by Esperion Therapeutics, XO1, PTC Therapeutics and Valeant.
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A chance discovery at a U.K. hospital led to the synthesis of an antibody that could prevent blood clots without causing excessive bleeding. Index Ventures created and funded single-asset company XO1 to conduct first-in-man tests on the compound by 2015.
Spun out from Pfizer five years ago, the Ann Arbor, Mich., company hopes its Phase II candidate can capture a share of the market for high-cholesterol drugs prescribed to statin-intolerant patients.
Cystic Fibrosis Market Snapshot: Disease-Modifying Drugs Elusive 24 Years After Discovery Of Root Cause
The discovery in 1989 of the underlying genetics causing cystic fibrosis was expected to spur broad development of disease-modifying therapies. As of 2013, however, only one such drug is on the market, for a small subset of CF patients, and a few other candidates are in clinical development.