Cambridge, Massachusetts-based Wave will add Pfizer's initial payment, which includes a $30m equity investment, to a $196m stockpile that the company amassed in 2015, including $102m from an initial public offering in November and $78m from two separate venture capital rounds. The cash will fund Wave's operations into 2019, during which time it plans to take two new drug candidates into the clinic each year while out-licensing or, possibly, spinning out non-core programs into separate companies. (Also see "Is the Biotech IPO Window Closing?" - Scrip, 22 October, 2015.)
Wave President and CEO Paul Bolno said in an interview with Scrip that the company decided to develop therapies for...
