George Scangos heads back to Wall Street. And he’s bringing along some of the best connections in biotech
George Scangos’ startup Vir Biotechnology has filed its plan to go public, pointing the CEO back to Wall Street — where he’s proven a capable player.
Best known for bringing in his own team at Biogen and winning accolades for making Tecfidera into a big blockbuster in multiple sclerosis, he left well before the thin pipeline proved severely disappointing.
Scangos’ team has pencilled in $100 million for the fundraising he has in mind, though you can be sure that with his connections, Vir has a much larger figure in mind. And it’s unveiling the exact scope of an R&D alliance with Alnylam that starts with a small portion of cash and then swells into a $1.3 billion smorgasbord of milestones.
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