Who else wanted to buy Iveric? Before the $5.9B Astellas deal, five biopharma companies took a look
Two years ago, as Iveric Bio went through late-stage studies of its main experimental drug, it began attracting interest from potential buyers. Five companies ended up in early-stage discussions with the biotech at the time, and others would express interest later on, though ultimately, only one would make a bid to buy it.
Iveric ended up striking a $5.9 billion deal with Astellas in April. An SEC filing details the run-up to the takeover, showing Astellas was the sole formal bidder on Iveric despite drawing general interest from a handful of biopharmas. Iveric’s key drug, called Zimura or avacincaptad pegol, is up for an FDA approval decision in August to treat geographic atrophy, a serious eye disease that can lead to blinding.
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.
