Mallinckrodt bags late-stage infantile jaundice drug in $425M InfaCare buyout deal
It’s been more than 10 long years since InfaCare Pharmaceutical got rolling with its Series A round, making slow progress with a lead drug designed to treat hyperbilirubinemia in newborns. And with a pathway to a possible approval finally in view, Mallinckrodt $MNK is stepping in to buy the biotech with $80 million in cash and up to $345 million in milestones.
The spotlight at InfaCare is on stannsoporfin (Stanate), a heme oxygenase inhibitor designed to prevent jaundice by inhibiting the formation of bilirubin. Trevose, PA-based Infacare, though, has been a very low-profile operation — underscored by word on its web site that it’s been raising a Series C, 9 years after the B round from HealthCare Ventures, Longitude Capital, FirstMark Capital and Atlas Venture came through.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.