After an insane second quarter, funding of U.S. biotechs by venture capital cooled off a bit as the weather warmed up. (See BioWorld Today, July 2, 2013.)
Companies are going public left and right. According to BioWorld Snapshots, 29 biotechs have made initial public offerings on U.S. exchanges this year.
The rules for crowdfunding from unaccredited investors established by the 2012 Jumpstart Our Business Startups (JOBS) Act haven’t been set by the SEC – observers expect them by the end of the year – but that hasn’t stopped Boston-based Blazefund from marching forward with its crowdfunding platform.
The tickle you feel that makes you want to cough could be caused by the same mechanism that results in chronic pain. Afferent Pharmaceuticals Inc. execs believe they have a drug to treat both.
Given the billion dollar potential of Gilead Sciences Inc.’s sofosbuvir, it’s not particularly surprising that other companies would try to get a piece of the drug’s sales, claiming their patents covered the hepatitis C (HCV) drug.
Although the market to treat high cholesterol and high triglycerides is crowded with drugs, with plenty more in the later stages of clinical development, Catabasis Pharmaceuticals Inc. execs said the firm has a shot to compete despite its late start. The secret weapon: a two-pronged drug using its SMART-linker technology that can be delivered orally.
When Perrigo Co. announced that it was purchasing Elan Corp. plc. for $8.6 billion last month, Perrigo's relocation to Ireland to take advantage of the country's 12.5 percent corporate tax rate was cited as one of the driving forces for the transaction. (See BioWorld Today, July 30, 2013.)
With 23 U.S. biotechs going public on U.S. exchanges so far this year, compared to just 11 initial public offerings (IPOs) all of last year, the IPO window is starting to look more like an IPO bubble.
