Rexahn Adds Drug Conjugate Platform To Its Oncology Offerings
This article was originally published in The Pink Sheet Daily
The Rockville, Md.-based biotech hopes to bring more value to shareholders through a slew of polymer-conjugated cancer drugs that it will add to its pipeline while it continues moving its three lead cancer compounds forward.
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A busy summer of biotech acquisitions, including the pricey buyouts of Onyx by Amgen and Elan by Perrigo, has lifted the number of U.S. public biotech acquisitions so far in 2013 – and increased the average value of those deals. In other deal news, Endo plans to acquire Boca Pharmacal, Medimmune will buy out Amplimmune, and Eli Lilly signed a diabetes research deal with Zealand Pharma.
As Roche’s reported interest in buying rare-disease specialist Alexion faded, new suitors popped up for oncology specialist Onyx. Plus news on deals between Spectrum and Talon, Pfizer and Sequella, Medtronic and Amgen, and a new direction for Rexahn.
Rexahn Pharmaceuticals hopes this will be its big year. With three candidates in various stages of Phase II development and cash projected to last through the first quarter of 2011, Rexahn feels it should be able to land at least one major deal to either co-develop or out-license one its lead programs