How the pandemic helped secure a rare cancer drug for Menarini
The leadership at Stemline had been in negotiations with one company for over a year, when they got a surprise note out of Italy: Menarini, the century-old, Florentine pharma company wanted to know if they’d be interested in a partnership on their new drug.
They sat down, four of them at a table at the BIO International Conference in Philadelphia in June 2019, two business execs from Stemline and two from Menarini. At the time, Stemline’s rare cancer drug had been approved in the US for 6 months and the tiny New York biotech was figuring out how to move from a research group to a commercial one. They had sold $5 million in the first quarter that year and would sell $13 million in the second.
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