Developing a Sanofi cast-off, Impact Biomedicines now subject of $7B Celgene acquisition deal
A startup developing the once-discarded fedratinib, a drug cast off from Sanofi due to safety concerns back in 2013, is now the subject of a $7 billion acquisition deal by Celgene.
The tiny San Diego company at the center of the deal is Impact Biomedicines, founded by John Hood, the ex-co-founder and CSO of regenerative medicines company Samumed. Before his stint at Samumed, Hood had been the co-inventor of fedratinib while research chief at TargeGen. Then Sanofi scooped up the mid-stage JAK2 myelofibrosis drug with big plans to make it the centerpiece of their newly revived oncology effort and Hood went on to Samumed.
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