Bausch To Spin-Out The Bausch Part Of Its Business
The company formerly known as Valeant, put together by a series of mergers, is ready to spin out the legacy Bausch + Lomb eyecare business that it used in its rebranding.
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Public Company Edition: Bausch remains the majority shareholder, but B+L is a separate operating company. Also, Rezolute raises $130m in dual financings and BridgeBio outlines job cuts and will out-license assets to conserve cash.
B+L’s novel therapy for a subset of dry eye disease hits both sign and symptom endpoints in the first of two Phase III studies. The product could add value to a planned spinout.
Olema launched this year’s 75th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.