Roger Tung, Concert CEO

With a make-or-break PhI­II read­out loom­ing, a strug­gling Con­cert of­floads a 'port­fo­lio' of drugs

A one-time high-fly­ing biotech which once had big plans for its plat­form tech is jet­ti­son­ing a “port­fo­lio” of pipeline drugs as it hun­kers down for a make-or-break at­tempt to com­pete with two phar­ma gi­ants in what looks to be an in­tense­ly com­pet­i­tive alope­cia field.

In a brief state­ment out on Fri­day, a tiny out­fit called Ter­ran Bio­sciences put out word that it has snapped up a group of CNS drugs from Con­cert Phar­ma­ceu­ti­cals, which axed its mid-stage schiz­o­phre­nia drug a lit­tle more than a year ago af­ter a crush­ing Phase II fail­ure. There’s no word on which drugs are in­volved and not a peep about the dol­lars in­volved.

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