Resetting After Your Lead Drug Fails
Santhera CEO On Transparency In The Face Of Adversity
Becoming a first-time CEO of a biotech company in 2020 meant dealing with unexpected challenges without any instruction book to follow. Santhera Pharmaceuticals’ Dario Eklund not only had COVID-19 upheaval to manage, but also a late-stage trial failure, a virtual financing and a new plan for the company to sell to stakeholders.
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Swiss company Santhera's lengthy and problem-laden journey to repurpose its already marketed idebenone for use in Duchenne Muscular Dystrophy has ended in failure. The company has withdrawn its EU filing for the product following its announcement that it was halting development.
In Vivo's Deal-Making column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in May 2021. Data provided by Biomedtracker.
Deal-making and financing activities are on the rise for liquid biopsy diagnostic products in 2021 despite questions remaining around whether the technology can unseat standard-of-care biomarker and imaging tests.