Deal Watch: Vertex Calls On CRISPR Yet Again, Now To Collaborate On Type 1 Diabetes
Evotec, BMS Neurodegeneration Deal Expands To $4bn In Total Value
Vertex and CRISPR look beyond beta thalassemia and sickle cell disease. Also, Bicycle gets $50m up front in Novartis deal, Regeneron commits $75m initially under a Treg collaboration with Sonoma, and Jounce gets a better deal from Concentra to wave off Redx merger.
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Restructuring Edition: OrbiMed/Foresite and Concentra responded quickly after Theseus implemented a 72% workforce reduction and began a search for strategic alternatives despite having $225.4m in cash. REGENXBIO, Novavax and Lyell also revealed job cuts despite large cash stockpiles.
Deal Snapshot: Regeneron will buy Decibel for about $109m, plus a contingent value right linked to milestones related to gene therapy programs for hearing loss.
The proceeds from the series A will be used to progress Dualyx’s preclinical program DT-001, which targets "the highly attractive TNF receptor 2 (TNFR2), widely regarded as a master control switch in immune modulation."