BIO Notebook Day 4: Waiting On Data, Adjusting To The IRA, And Focusing On All Patients
GSK, BridgeBio, and the US FDA’s patient-focused drug development director discuss contingency planning as the BIO International Convention concludes in Boston.
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Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.
The ATTRibute-CM study met its primary endpoint as well as key secondary endpoints, and the company plans to file for US FDA approval before the end of 2023.
Biotechs are ready to partner or sell assets to raise cash while turmoil continues in the financial markets, but they are doing so at lower valuations, with IRA and FTC concerns putting further pressure on deal terms.