Tuesday, May 30, 2017
Bioverativ, a global biotechnology company focused on the discovery, development and commercialization of innovative therapies for hemophilia and other rare blood disorders, has entered into a definitive agreement to acquire South San Francisco-based True North Therapeutics, a privately-held, clinical-stage rare disease biotechnology company, for an upfront payment of $400 million plus assumed cash. True North investors are also eligible to receive additional payments of up to $425 million contingent on the achievement of future development, regulatory and sales milestones.
Inmedix, a provider of heart rate variability (HRV) applications as an informative diagnostic tool in autoimmune disease, announced the establishment of a subsidiary, Inmedix UK, Ltd.
Privately held Synlogic has entered into a definitive merger agreement with Mirna Therapeutics under which Synlogic will merge with a wholly owned subsidiary of Mirna in an all-stock transaction. The merged company will continue under the Synlogic name and will focus on advancing Synlogic’s drug discovery and development platform for Synthetic Biotic medicines, which are designed using synthetic biology to genetically reprogram beneficial microbes to treat metabolic and inflammatory diseases and cancer.
Demonstrating its commitment to representing research- based biopharmaceutical companies, the board of directors for the Pharmaceutical Research and Manufacturers of America (PhRMA) approved new criteria for membership. Biopharmaceutical companies will now have to meet new R&D requirements in order to be eligible to join PhRMA.
A team of scientists from the Massachusetts biomedical community launched a new research institute to expand protein science and enhance drug discovery. Backed by a unique and collaborative combination of public investment and academic philanthropy, The Institute for Protein Innovation (IPI) brings together leaders in academic research, biotechnology, pharmaceuticals and biomedical investing to seek new therapies for currently intractable diseases.
Horizon Pharma, a biopharmaceutical company focused on improving patients’ lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs, has agreed to acquire River Vision Development and its development-stage medicine teprotumumab (RV001), a fully human monoclonal antibody (mAb) currently in development for thyroid eye disease (TED), a rare, autoimmune inflammatory disorder.
BD (Becton, Dickinson and Company), a global medical technology company, and C. R. Bard, a medical technology leader in the fields of vascular, urology, oncology and surgical specialty products, announced a definitive agreement under which BD will acquire Bard for $317 per Bard common share in cash and stock, for a total consideration of $24 billion. The agreement has been unanimously approved by the Boards of Directors of both companies.
Weill Cornell Medicine announced a gift made by WorldQuant and Igor Tulchinsky that will further realize the promise of precision medicine. The $5 million gift establishes a new initiative that will use predictive tools to enhance Weill Cornell Medicine’s capability to diagnose and treat a variety of illnesses, with the goal of improving outcomes for patients.
AstraZeneca marks a key milestone in its successful move to Cambridge, U.K., with the “topping out” of its new, state-of-the-art, strategic R&D center and global corporate headquarters at the heart of the Cambridge Biomedical Campus (CBC). The company, including its biologics research and development arm, MedImmune, already has 2,000 employees actively engaged in the city’s vibrant scientific, academic, clinical and business community. Occupation of the site will begin in stages in 2018.