Sans IPO, Bayhill secures $350M in Genentech licensing deal
Months after giving up on its IPO hopes last year — when the market was especially brutal for lifescience companies — Bayhill Therapeutics has landed a licensing deal worth $25 million in upfront cash and equity with Genentech. It could bring in as much as $325 million more if it hits certain sales and regulatory milestones, joining the ranks of several biotech firms that ditched public offerings for lucrative equity deals, VentureWire reports (citing Elixir… Continue Reading
Life sciences briefing: Friday, Jan. 18, 2007
TODAY’S HEADLINES:
Ulthera receives $23M for cosmetic ultrasound devices (release)
Senexis raises £2.9M for Alzheimer’s drugs (PDF release)
Elixir Pharma postpones IPO (IPO Home)
Cancer Therapeutics names Randall Riggs as CEO (release)
Ulthera receives $23M for cosmetic ultrasound devices — Ulthera, a Mesa, Ariz., startup developing ultrasound systems for cosmetic procedures, raised $22.5 million in a second funding round. Investors included New Enterprise Associates and 3i.
Ulthera, whose Web site is still a stub, aims to use its ultrasound devices… Continue Reading
Life sciences briefing: Monday, Sept. 24, 2007
Featured companies: Adnexus Therapeutics, Bristol-Myers Squibb, Cellerix, Elixir Therapeutics, GenomeQuest, Intronn, JapanBridge, JenaValve, VirXsys, Ysios Capital
[NOTE: This item is a catchup daily briefing originally posted on 9/27/07. I've edited the item's timestamp to preserve the chronological order of the briefings. --D.P.H.]
Adnexus Thera cancels IPO, sells itself to Bristol-Myers for $430M — Waltham, Mass.-based Adnexus Therapeutics, a biotech pursuing drugs against cancer and other diseases, said it would cancel plans for its IPO and instead sell… Continue Reading