Aastrom Adds Revenues Through $6.5M Regen Med Buy From Sanofi
This article was originally published in The Pink Sheet Daily
The stem cell company will use revenues from the already-marketed products to continue funding the late-stage stem cell therapy in its pipeline and help it build out its commercial organization.
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Biopharma financing totaled $7.2 billion, a 36% decrease from Q1; 36 completed M&As had a combined potential value reaching $116 billion, more than three-and-a-half times the previous quarter; 84 biopharma alliances, together totaling $7.7 billion in potential pre-commercialization value, showed a significant jump from Q1’s $1.9 billion aggregate.
In addition to the mega-deal, Valeant’s latest acquisition gambit and the Pfizer/AstraZeneca rumors, the hectic week saw Celgene pay a huge upfront for a Phase III Crohn’s candidate, Aastrom purchase Sanofi’s regenerative medicine business and The Medicines Company add to its surgical products portfolio.
The Michigan biotech is undergoing a complete restructuring as it cans its lead program and new management implements a different vision for the company.