Neon listed on the NASDAQ at $16 per share 18 months ago. It has now been picked up by the ambitious German biotech for just $2.18 per share, having recently ended its cancer vaccine programs and laid off a quarter of its workforce.
Germany's BioNTech SE has snapped up struggling US immunotherapy company Neon Therapeutics Inc. for a cut-price $67m.
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The San Diego biotech’s lead product candidate is an antisense oligonucleotide-based therapy slated to enter Phase III development in the third quarter.
Emma Walmsley tells Scrip that the "biotech market is under a certain degree of pressure," so reasonably priced deals are available.
The companies will co-develop the drug for additional indications beyond Huntington’s disease, while Prilenia retains rights in key global markets.
The German group is paying $3.9bn to get hold of the US firm and its two approved products.
Emma Walmsley tells Scrip that the "biotech market is under a certain degree of pressure," so reasonably priced deals are available.
Bourla said the pharma industry may be able to negotiate productive solutions to Trump tariff and drug pricing concerns. He asserted anti-science views are not shared by all in the administration.
Abeona plans to offer an outcomes-based payment model for Zevaskyn, which likely will see complementary use with Krystal’s Vyjuvek in recessive dystrophic epidermolysis bullosa patients.
