No Approval, No Pay: VCs Bet Large On Late-Stage Pharma Trials
This article was originally published in Start Up
Some of the biggest names in life science venture capital – OrbiMed Advisors, Clarus Ventures, and Abingworth – are spending hundreds of millions of dollars to run the clinical trials of drugs owned by Pfizer and other big drugmakers. They’re taking on major clinical and regulatory risks for what might be less-than-stellar returns but if it works, these VCs may have come up with a better way to diversify their portfolios in an era when long-term company-building isn’t paying off.
You may also be interested in...
Britain’s NICE has rejected Pfizer’s Xalkori (crizotinib) for lung cancer and Inlyta (axitinib) for kidney carcinoma within two days of each other, putting drug discounts back in the spotlight.
Germany’s IQWiG has shot down Pfizer’s lung cancer treatment, citing questionable study results and no improvement on curbing side effects.
Biogen brings Tysabri fully in-house by using off-shore cash to compensate Irish partner Elan. Plus, the week in biopharma deal-making.