Business development (BD) is an essential ingredient to the success of early-stage companies, whether they plan to exit through M&A, IPO, or have other mechanisms to return money to investors. The most effective corporate strategies, while typically and necessarily focused on scientific goals, also closely integrate well designed BD objectives and scenarios. When the science […]
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NextGen Class of 2024: Top Life Sciences Startups to Watch This Year
BioSpace is proud to present its NextGen Bio Class of 2024, a list of the hottest new life sciences companies in the United States. To come up with this list, BioSpace identified companies that launched between September 2022 and September 2023 with Series A funding. They were then assessed using several different criteria including finance, partnerships, pipeline, […]
From Good to Great: Unlocking a biopharma platform’s full potential
Good Therapeutics, founded in 2016 by molecular biologist John Mulligan, Ph.D., was acquired by Roche in 2022 for $250 million upfront plus potential milestone payments. Even better, Mulligan and company retained their platform and the ability to mine it for innovative drugs to fight cancer and other diseases. The potential for conditionally active protein technology […]
A Recipe for Start-Up Success with a Platform Technology
Startup and privately held biotechnology companies with a broadly applicable technology face a market that awards higher valuations to assets than to platforms for drug discovery. Platform companies, therefore, face a fundamental problem — how to return money to investors in a reasonable time frame and simultaneously realize the appropriate value for their platform. In […]
The Busiest Dealmakers of 2022
With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.
Seattle biotech Bonum raises $93M Series A round
Bonum said the funding will help the company advance its technology and find collaborators.
Good Therapeutics spinout Bonum banks $93 million in Series A
Bonum Therapeutics, a biopharma using allosteric regulation to create conditionally active and less toxic medicines, has announced a $93 million Series A financing. The Seattle, USA-based firm is a spinout of Good Therapeutics, which Swiss pharma giant Roche (ROG: SIX) acquired in August 2022 for $250 million upfront plus potential milestone payments. Investors that financed […]
Seattle biotech startup born out of a Roche buyout lands $93M to advance therapies
Seattle biotech startup Bonum Therapeutics raised $93 million less than two months after its parent company Good Therapeutics was bought for $250 million by Roche, with the potential for milestone payments. Bonum founder and CEO John Mulligan hopes to repeat the success of Good Therapeutics by using the same platform technology and potentially leveraging a similar future buyout structure.
After $250M Roche buyout, a startup plans a second strike with fresh funding
Two months ago, biotechnology startup Good Therapeutics struck it big. A cancer immunotherapy the company was working on drew such interest from Roche that the Swiss pharmaceutical giant paid $250 million, far more than the $30 million the startup had raised privately, to buy it outright. But Good and its management team only parted with one piece of […]