Thermo Fisher And University Of California Join Forces To Develop Cell-Based Therapies
The agreement will accelerate the development of cell-based therapies, where Thermo Fisher will build and run a development center
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The annual J.P. Morgan Healthcare Conference includes presentations from major medtech companies; Some use the conference as a platform for major announcements while some just take the opportunity to explain their 2023 outlook to investors. Here are some of the highlights from the presentations on the second day of the meeting.
Two $1bn+ alliances were penned in April. Vertex and Obsidian entered into an agreement surrounding the discovery of therapies that regulate gene editing for the treatment of serious diseases. Obsidian is eligible for up to $75m in up-front payments and research milestones and could get another $1.3bn in potential milestone payments across up to five potential programs. Artios signed a three-year global research collaboration with Novartis to discover and validate next-generation DNA damage response targets to enhance Novartis’ radioligand therapies. In the top April M&A by deal value, Thermo Fisher and publicly traded contract research organization PPD announced a definitive agreement under which Thermo Fisher will pay $47.50 per share (a 23% premium to the 10-day pre-announcement average) in cash for PPD, for a purchase price of $17.4bn plus the assumption of approximately $3.5bn of net debt. Financing reached $14.6bn in biopharma, $1.2bn in device, and $2.4bn in diagnostics.
Less than a month after it sold off its reproductive health assets, Invitae has filed for bankruptcy. That will not come as a surprise to anyone following the company.