Financings Of The Fortnight Not Seeing A Trickle-Down Investment Effect From Last Year’s IPOs
This article was originally published in The Pink Sheet Daily
The 2013 life sciences IPO boom does not necessarily augur more of the same for those biotechs now lining up to go public. Plus financing news from Juno Therapeutics, GlycoMimetics, Ultragenyx and Alkermes.
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University of Pennsylvania seeks court order that its cancer immunotherapy does not infringe St. Jude’s patent; Juno, which licensed the patent for the potential leukemia treatment, has joined the settlement talks.
The rare disease biotech is confident it can move all of its programs forward and has no interest in selling its commercialization rights to a Big Pharma partner.
Novartis’ deal with the University of Pennsylvania around cancer immunotherapies based on chimeric antigen receptor technologies developed in the lab of Penn’s Carl June comes at an opportune time. The Big Pharma is fighting to preserve its number two ranking in oncology and Penn’s high-profile, albeit much smaller, alliance with AstraZeneca in neurodegenerative disease is winding down.