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Latest From Pierre Fabre
EcoR1 and Casdin/Corvex took their second and third special purpose acquisition corporations public. Also, Ionis sold notes to buy back older notes and fund operations as it cut 70% of Akcea’s staff. In venture capital, ValenzaBio raised $70m and RA boosted Metagenomi’s series A to $75m.
Private Company Edition: The astonishing pace of venture capital investment in drug development continues with another $1.5bn in financings of $100m or more, including $152m for Pyxis and $126m for Omega. New VC funds also continue to launch, including RiverVest’s fifth fund, totaling $275m.
The Beijing/Boston-based bioventure shocked the industry with its recent announcement of the return of exclusive rights to an oncology assets in the greater China area to its US licensee, in an effort to focus squarely on rare diseases. CEO James Xue shares his views on this market in China in an exclusive interview with Scrip.
After an earlier frenzy around local production and supply, policies to encourage generics, and fast-evolving procedural streamlining, Pfizer’s $350m ambition to develop and make cheaper biologics in China has come to an abrupt halt with the sale of its manufacturing site in a deal with services heavyweight WuXi Apptec.
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