Forma Therapeutics Holdings LLC's licensing agreement with Roche's Genentech Inc., announced June 27, is a creative twist on option-style dealmaking that could bring returns to the start-up's venture investors while skirting the traditional exit routes of acquisition and public offering. [See Deal] The deal illustrates one path highly innovative platform-focused biotechs could take when they are trying to satisfy the demands of venture backers while remaining focused on their strengths in early stage drug discovery.
In the arc of a platform biotech company's development, there often comes a point when the start-up must choose to...
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