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Cell Pathways Inc.

Division of Astellas Pharma Inc.

Latest From Cell Pathways Inc.

Unsuccessful IPOs

Not all initial public offerings are taken up, even in the best of funding years. Of the 54 life sciences IPOs registered in 1997, 11 (20%) were withdrawn because of pricing issues or lack of interest.

BioPharmaceutical Deals

Midway Pharmaceuticals Inc.

Midway Pharmaceuticals Inc. has a non-antibiotic approach to the raging problem of hospital-acquired infections. Its Polymer BioShield is a high molecular weight polyethylene glycol that when ingested has a multifactorial effect in the gut. It acts as an artificial barrier in situations where a patient's own mucousal barrier has been compromised. Perhaps more importantly, it appears to affect bacterial signaling, preventing pathogens from ganging up and launching an attack.

Medical Acquisitions: No Icebreaker in Sight

At the top of the industry, consolidation has frozen out much additional M&A; horizontal mergers among large companies have become much more difficult to get through regulatory authorities as the industries themselves have consolidated. In medical devices, M&A is at a 10-year low, reflecting a paucity of high-value small-company opportunities. Perhaps as important, some successful big-company development programs undermine a basic assumption of medical device investing: that big companies must source innovation from small ones, usually through acquisitions. Meanwhile In biotech, the number and value of M&A is down, despite the apparent logic of consolidation and the unprecedented willingness of sellers to accept low valuations. The key problem is that there are few buyers: those without extremely strong balance sheets aren't willing to take on additional burn rates, having seen some acquirers come to grief as their new, apparently stronger companies are unable to raise money in this bear market.
BioPharmaceutical Medical Device

Biotech Bread Winners of 2002

Private financings were down in 2002 across all sectors -- just 353 were completed, versus 438 in 2001 and 504 in 2002. The biggest stacks of money went to start-ups with the potential to bring numerous products to market, particularly to spin-offs. Quite a few of the big financings went to private companies that almost certainly would have launched a public stock offering if times were better. Start-ups lacking superstar pedigrees are now competing against public firms whose stock prices have fallen, as the dismal market encourages investors to expend their efforts on organizations and products that already exist. Cyclical as markets may be, this trend isn't likely to evaporate even if the financing climate warms up in 2002.
BioPharmaceutical Business Strategies
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Company Information

  • Industry
  • Biotechnology
  • Pharmaceuticals
  • Therapeutic Areas
  • Cancer
  • Alias(es)
  • Ownership
  • Private
  • Headquarters
  • Worldwide
    • North America
      • USA
  • Parent & Subsidiaries
  • Astellas Pharma Inc.
  • Senior Management
  • Robert Towarnicki, Pres. & CEO
    Brian Hayden, VP, Fin. & CFO
    Rifat Pamukcu, EVP, CSO
    Lloyd G Glenn, VP, Sales & Mktg.
  • Contact Info
  • Cell Pathways Inc.
    Phone: (215) 706-3800
    702 Electronic Dr.
    Horsham, PA 19044