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Curis Reformed: Unearthing Preclinical Value

Executive Summary

From its start as a promising powerhouse in the emerging area of regenerative medicine and through product failures, valuation crunches and capital constraints, Curis has in the past two years embraced an almost old-school approach to the biotechnology business. Bereft now of the late-stage assets (and corresponding cash burn) that helped drive its formation through merger in 2000, the company has leveraged its preclinical expertise in cell signaling to sign broad, value-creating alliances with top-shelf biotechnology and pharmaceutical partners.

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