Bayer-owned AskBio will shift focus toward its doggybone DNA in restructure with Touchlight
The year was 2018, and AskBio CEO Sheila Mikhail wanted 100% controlling interest in a joint venture with Touchlight. The company was in negotiation with an unnamed Big Pharma for a collaboration that would have provided it with enough cash to make that a reality. After 18 months of negotiations and agreements in place, the Big Pharma deal fell through, and so did Mikhail’s Touchlight ambitions.
Running a biotech is no different than managing a family’s finances, she said. You have to stick to a budget.
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