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Latest From Mike Ward
The first half of 2018 appeared promising for the European biopharma sector, with multiple large investment funds promising cash to young, innovative companies in the region – a turnaround after years of life science firms suffering from a funding drought across Europe.
With its 2015 third fund Forbion Capital III yielding an internal rate of about 65% and already returning 60% of the money it drew down back to investors, it is probably no surprise that Forbion exceeded its €250M target for its predominantly Europe-focused Forbion IV fund within two months of marketing.
BioNTech and Genevant have boosted their clinical ambitions by agreeing a 50/50 co-development, co-commercialization collaboration for five mRNA rare disease programs. BioNTech also secured exclusive licenses to Genevant's LNP drug delivery platform for five oncology programs.
European biotechs are likely to be the big winner as transatlantic VC Abingworth closes its latest fund, Abingworth Ventures VII (ABV VII), at $315m, exceeding its $300m target.
Former UK science minister Lord Drayson explains to Scrip his plans for Sensyne Health, an Oxford, UK-based AI-focused healthcare technology company, to go public after securing a second deal with an NHS Foundation Trust while seeking big pharma research collaborations.
With Mylan snapping at its heels, Israel’s Teva managed to retain top slot in the latest Generics Bulletin rankings. Severe pricing and margin pressures in the US market made like difficult for generics companies in 2017, with eight of the top 20 firms reporting year on year sales declines.