Drug Sponsors

Sorrento, NantBioScience form joint venture

Friday, July 10, 2015

Sorrento Therapeutics, a clinical stage oncology company, and NantBioScience, a majority owned subsidiary of NantWorks, have established a joint venture to focus on the development of first-in-class small molecules addressing drivers of cancer growth, including cancer stem cells. ‎Sorrento will contribute key small molecule programs (lead inhibitors of the proto-oncogenes c-Myc, and the master metabolism regulator HIF-1 alpha, and an inducer of the tumor suppressor cytokine TRAIL) to the joint venture, which will be 60% owned by NantBioScience and 40% owned by Sorrento, and funded accordingly.

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Horizon Pharma proposes to acquire Depomed for $3B

Wednesday, July 8, 2015

Horizon Pharma, a Dublin, Ireland-based biopharmaceutical company, has proposed to acquire all outstanding shares of Depomed, a U.S. specialty pharmaceutical company, for a per share consideration of $29.25 in an all-stock, tax-free exchange valued at approximately $3 billion. Horizon’s proposal represents a premium of 42% to the closing price of Depomed on July 6. The transaction, if consummated, would be immediately and substantially accretive to Horizon’s adjusted diluted earnings per share.

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Baxalta launches focused on orphan diseases and underserved conditions

Thursday, July 2, 2015

Baxalta has launched as a global biopharmaceutical company dedicated to delivering transformative therapies to patients with orphan diseases and underserved conditions. The company continues to advance in hematology and immunology and seeks to expand its oncology portfolio for patients with limited treatment options. Baxalta plans to launch 20 new products by 2020, leveraging the company’s existing global capabilities and footprint in more than 100 countries.

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