Pfizer signs up for match-making service; Investors tell Sanofi: Make a deal, now
• Pfizer has signed on with a “match-maker” group in Cambridge UK that specializes in bringing biopharma companies and academic investigators together. The Milner Therapeutics Consortium was set up in 2015, attracting GSK and AstraZeneca, among others, to the fold.
• Sanofi promised new M&A deals, but just can’t seem to pull a big one off. Two deals have slipped away now. And some of its big investors are getting worked up about the lack of progress under CEO Olivier Brandicourt. “The company needs a growth driver and must make an acquisition. Time is running out,” Olivier David of Vega Investment Managers tells Reuters.
• Belgium’s Octimet Oncology has raised 11.3 million euros for its Series A. The cash will primarily go to develop its MET kinase inhibitor. The funding round was led by V-Bio Ventures (Belgium) and Fund+ (Belgium) with more cash coming from DROIA Oncology Ventures (Luxembourg/Belgium) and OMNES Capital (France).
• The UK’s Abzena skated right past the details in announcing this morning that it has signed a new $300 million deal for its ADC linker tech with an unnamed partner. (All they say is that it’s in San Diego.) There was no breakdown in cash or milestones, but the stock rocketed up nevertheless.