BioNTech lines up USD 800 Million for fuelling mRNA R&D
BioNTech is lining up a Nasdaq IPO that raises USD 800 million. The German mRNA specialist is contemplating to stimulate its cash-intensive plans. BioNTech has booked Bank of America and JPMorgan with a plan to list on Nasdaq. The current plan is to increase to USD 800 million at a valuation of USD 4 billion.
Deerfield remunerates USD 100 Million for research of translational agreement
Deerfield Management and Harvard University are collaborating on translational R&D to pave the way to the clinic for new therapies discovered at Harvard. The duo is establishing a new company named as Lab1636, with USD 100 million in backing from Deerfield. The new company will be wholly retained by the affiliates of Deerfield and will bolster Harvard R&D projects at various stages of drug discovery and development.
Britain’s Smith & Nephew to acquire Osiris in regenerative products push
Smith & Nephew has moved further to absorb regenerative medicine developer Osiris Therapeutics in a USD 660 million agreement. This way, the company hopes will extend and speed up its wound care business. The portfolio of Osiris includes bone graft, cartilage and skin substitutes that include its main growth drivers – Grafix and Stravix. It accounted for more than 70% of the company’s sales in the first nine months of 2018. They both were derived from cryopreserved placental tissues. Grafix is planned to replace skin after being directly applied to deep acute and chronic wounds. Whereas, Stravix is used as a surgical wrap to bolster soft tissue repairs in a range of procedures.