Phase II Alliances Command the Most Interest
Executive Summary
Biotechs have always relied on four sources of financing: venture capital, public equity, M&A, and alliances. But of these four financing "legs", only one remains strong: alliances. There's no question that average potential deal values-a combination of up-front fees and pre-commercialization money-are increasing nicely. But while the mean value of early-stage deals has remained steady, deal values for both Phase II and Phase III /NDA-stage compounds have continued to climb.
You may also be interested in...
Pharmaceutical Strategic Outlook: The Trouble with Alliances
At Windhover's March 2008 Pharmaceutical Strategic Outlook meeting one overriding theme was an alliance paradox: values continue to rise and deals provide an increasingly important source of funds for biotechs, yet public investors don't seem to like these deals. Plus: a discussion of big-pharma outlicensing and the importance of CFOs in pharma strategy.
The Value of Proof-Of-Concept
Big Pharma's unprecedented spending levels in licensing continue. But some recent deals suggest the real linchpin of licensing value is proof-of-concept in humans.
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.