Squeezed by As­traZeneca/Dai­ichi Sankyo, biotech de­vel­op­ing HER2 ADC switch­es CEO, launch­es pipeline re­view

When Am­brx Bio­phar­ma went pub­lic in the sum­mer of 2021 — join­ing in on the go-go times in biotech — ex­ecs cel­e­brat­ed it as the cul­mi­na­tion of a wind­ing jour­ney that took them from a failed IPO bid in 2014 to a sale to Chi­nese in­vestors and phar­ma com­pa­nies and, thanks to a new vi­sion and strat­e­gy, a $200 mil­lion crossover round from mar­quee VCs be­fore jump­ing on Nas­daq.

But it now ap­pears that an­oth­er piv­ot is due.

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