Hey Pfizer, Novartis and Eli Lilly. G1 Therapeutics says it can beat all of you in its $115M IPO
It’s been almost a year since G1 Therapeutics completed a $47 million crossover round. But now the cancer drug developer says it’s ready for a $115 million IPO, jumping into a growing queue on Wall Street with a plan to take on some of the giants in the biopharma business.
Research Triangle Park, NC-based G1 is aimed at a well known target in cancer research: CDK 4/6. Pfizer scored the pioneering OK for their blockbuster drug in 2015, fielding Ibrance. And Novartis followed up recently with Kisqali (peak sales potential around $2.5 billion), setting up a direct clash as Eli Lilly pursues its own program for abemaciclib.
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