Leo Pharma lines up an option to buy BridgeBio's PellePharm and its PhIII rare skin cancer drug
Dermatology company Leo Pharma’s voracious appetite for partnerships has been fueled with yet another deal, this time with BridgeBio’s PellePharm. The Danish drugmaker has taken a minority stake and agreed to provide R&D support to the Bay Area company, which is set to test its rare skin cancer drug, patidegib, in a Phase III trial.
The century old drugmaker, which consummated a deal to swallow German giant Bayer’s prescription dermatology business in the United States in addition to forging pacts with MorphoSys and Zymeworks $ZYME earlier this year, has initially committed $70 million comprised of equity financing and financial R&D support for a late-stage trial evaluating PellePharm’s patidegib for Gorlin syndrome – a rare, genetic skin disease that affects 10,000 in the United States.
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