GPC Leads German Dealmaking
Germany's GPC Biotech AG has already signed two deals with pharmaceutical companies this year. Both partners are fellow Germans, but neither deal would have happened had GPC not chosen to make itself international through acquiring privately held US oncology company Mitotix Inc. last March.
You may also be interested in...
Germany's GPC Biotech has taken a frugal and tortuous journey from platform to product company. As the customer base for its new-target discovery platform grew less receptive, it attempted to move its business towards products, but was prevented by its lack of management and its illiquid Neuer Markt shares. Thus it leveraged its Bristol-Myers connections to build an oncology team and create a pipeline, at the same time largely refocusing the company on in-licensing. In the meantime, rather than disbanding its discovery work, GPC is trying to reorient its entire platform towards applied uses in order to attract corporate funding and to feed its own pipeline. The result: a business model increasingly relevant to a financially troubled and largely directionless biotech industry.
Coronavirus Notebook: Heterologous Vaccine Study Shows Positive Results, UK Offers Earlier Second Dose To Vulnerable People
The European Medicines Agency has extended the time that Cominarty can spend in a fridge after defrosting and could this week issue advice to member states on sotrovimab for use in COVID-19 patients. Norway’s BerGenBio has published top-line data from a Phase II trial of of bemcentinib, and IcanoMAB has outlined the potential of its anti-IL-1R7 antibody.
Myovant, Bayer and Rhythm Pharmaceuticals are among the companies that could soon learn whether the European Medicines Agency thinks their drugs are fit for approval.