Healthcare analytics, AI solutions for biological big data, providing an AI platform for the biotech, life sciences, medical and pharmaceutical industries, as well as for related technological approaches, i.e., curation and text analysis with machine learning and other activities related to AI applications to these industries.
Juno Acquires AbVitro for $125M: high-throughput and single-cell sequencing capabilities for Immune-Oncology Drug Discovery, Volume 2 (Volume Two: Latest in Genomics Methodologies for Therapeutics: Gene Editing, NGS and BioInformatics, Simulations and the Genome Ontology), Part 1: Next Generation Sequencing (NGS)
Juno Acquires AbVitro for $125M: high-throughput and single-cell sequencing capabilities for Immune-Oncology Drug Discovery
Seattle-based Juno is announcing today that it has agreed to acquire Boston-based AbVitro, a spinout from George Church’s lab at Harvard University, for about $125 million in cash and stock. Specifically, Juno is offering $78 million in cash and 1,289,193 shares of its stock (valued at $36.39 a share at Friday’s close).
The AbVitro technology will also become part of Juno’s broader collaboration with biotech giant CelgeneCELG +0.88%. The big biotech has agreed in principle to license some of the technology that’s outside of Juno’s strategic zone. Essentially, Juno and Celgene operated like a joint scouting team. Rob Hershberg, Celgene’s new chief scientific officer, said in a statement: “Juno’s newly acquired high-throughput, single-cell sequencing capabilities have the potential to expand their current pipeline and Celgene is excited by the opportunity to access some of these potential new drugs.”
January 11, 2016, 09:55:00 AM EDT By Dow Jones Business News
Juno Therapeutics Inc. agreed to acquire privately held biotechnology company AbVitro Inc. in a cash- and-stock deal valued at roughly $125 million and reached a preliminary deal with collaboration partner Celgene Corp. related to the acquisition.
Juno, which develops cancer treatments that use the body’s own immune system to fight the disease, said the deal includes $78 million in cash and roughly 1.3 million shares. Juno also said it plans to relocate AbVitro scientists to Seattle.
Juno, which went public in late 2014, said the acquisition of Boston-based AbVitro provides it with a next-generation single cell sequencing platform that increases its capabilities in T cell technologies, which ramp up the power of the cells to see and attack tumors.
Under the preliminary pact, Juno would license Celgene a subset of the acquired technology and grant Celgene options to certain related potential product rights.
Celgene agreed in June to pay Juno $150 million in upfront fees, and purchase 9.1 million or $846.3 million of newly issued shares, in exchange for certain options to market Juno’s experimental immunotherapy treatments. The companies were to initially focus on treatments Juno is developing that involve genetically engineering immune-system warriors called T cells to attack tumors, a strategy that has shown promise in treating leukemia and other cancers of the blood.
In an investor presentation, Juno said AbVitro’s technology will let it sift through millions of individual cells in a few hours to identify receptors that Juno’s immunity technology can attach to.
Juno is competing against Novartis AG and Kite Pharma to develop such cell therapy strategies.
Affymetrix to Stick With Thermo Fisher’s Takeover Proposal
SAN FRANCISCO — What briefly appeared to be a potential bidding war for Affymetrix, a genetics analysis technology maker, fizzled out on Monday after the company chose to stick with a takeover bid from Thermo Fisher Scientific over a higher bid from a Chinese-backed suitor.
In a statement, Affymetrix reiterated its support for the $14-a-share offer from Thermo Fisher that it accepted in January.
In a statement, Affy said that based on the terms of the new offer, it determined that failure to engage with Origin on its bid could reasonably be expected to be “inconsistent with the board’s duties under Delaware law.”
However, Affy said that its board continues to recommend that its stockholders vote in favor of the adoption of the merger agreement with Thermo Fisher, explaining that it “has not determined that the Origin proposal is in fact a ‘superior proposal’ for purposes of the merger agreement with Thermo Fisher and is not making an adverse recommendation change.
“We fully expect that the Affymetrix board of directors will promptly conclude that our transaction remains the only bona fide alternative for Affymetrix stockholders and, as contemplated by the terms of our merger agreement, will definitively recommend against the Origin Technologies proposal and in favor of the Thermo Fisher transaction prior to the upcoming stockholder meeting,” Thermo Fisher President and CEO Marc Casper said in a statement this morning.
“Origin Technologies has still not addressed the fundamental flaws of its proposal, which has remained from its first announcement highly contingent, uncertain, and insufficient,” he added.
NEW YORK (GenomeWeb) – Origin Technologies Corporation, founded by former Affymetrix executives for the purpose of purchasing the company, proposed today to acquire Affy for $16.10 per share in an all-cash transaction valued at approximately $1.5 billion.
The proposal comes about a week before Affy shareholders are scheduled to vote on a different deal, Thermo Fisher Scientific’s proposed acquisition of Affy for approximately $1.3 billion, which the boards of directors of both firms unanimously approved in January.
According to a letter sent by Origin to Affymetrix today, its proposal represents a 75 percent premium to Affymetrix’s unaffected closing share price of $9.21 on the last trading day prior to the announcement of Thermo Fisher’s proposed acquisition.
Fully financed by SummitView Capital, Origin said its all-cash offer represents a 15 percent premium for Affy stockholders relative to the proposed transaction with Thermo, under which stockholders would receive $14.00 per share in cash.
As part of the offer, Origin also pledged to fund payment of the $55 million termination fee that would be due to Thermo under the terms of Thermo and Affy’s January agreement.
Wei Zhou, president of the newly formed Origin, wrote in the letter to Affy today that Origin strongly believes that its offer is superior to Thermo’s based on several criteria.
First, it offers substantially higher value to Affy’s stockholders, he said. Additionally, Origin believes it is in a better position to help Affy achieve its potential as a standalone, global company focused on genomics and proteomics. The deal would also offer an opportunity to acquire new technologies in the complete human genome sequencing space, Zhou wrote.
If the Origin-Affy merger goes through, Origin would have a separate option of combining with another company founded by Zhou in 2009, Centrillion Technology Holdings Corporation.
Thermo Fisher Scientific to acquire Affymetrix for $1.3 billion
WALTHAM, Mass. – Thermo Fisher Scientific Inc., announced Jan. 8 that it has agreed to acquire Affymetrix Inc. for $14.00 per share in cash, or roughly $1.3 billion. The transaction, approved by the boards of directors of both companies is pending shareholder approval and is expected to close in the second quarter this year.
Santa Clara, Calif.-based Affymetrix was founded in 1992 and is a pioneer in the field of
microarray technology, launching its
GeneChip line in 1994. Today, the company serves both the
life sciences research and
clinical markets
Over the past ten years, the company has broadened its portfolio of tools that enable both
multiplexed and
parallel analysis of
biological systems at the cell, protein and genetic level.
Notable acquisitions for Affymetrix have included genetic tools company ParAllele Bioscience (2005), genetic, protein and cellular analysis provider Panomics (2008), and eBioscience (2012), which included one of the world’s largest selections of
antibodies,
ELISAs, and
proteins
for life science research and diagnostics.
“The acquisition of Affymetrix will strengthen our leadership in biosciences and create new market opportunities for us in genetic analysis,” said Marc N. Casper, president and CEO of Thermo Fisher Scientific. “In biosciences, the company’s antibody portfoliowill significantly expand our offering in the fast-growing flow cytometry market, and customers will have greater access to these products through our global scale and commercial reach. In genetic analysis, Affymetrix’s technologies are highly complementary and present new opportunities for us in targeted
clinical and
applied markets.”
According to Frank Whitney, president and CEO of Affymetrix, the acquisition will allow the company to continue to build upon the close relationships it has created with customers, while deepening its reach into the biopharma market. “We are excited about the opportunity to combine our portfolios and strengthen our position in high-growth markets such as
single-cell biology
reproductive health and
AgBio
According to information provided by Thermo Fisher, benefits of the acquisition include expanding its offerings of its antibody portfolio via the eBioscience line of products, which also includes
multiplex RNA,
protein assay
single-cell assays
genetic analysis capabilities via complementary products used in
cytogenetics
genotyping and
gene expression.
Thermo expects Affymetrix will add $0.10 in adjusted earnings per share in the first full year of ownership, while creating $70 million in operational savings by year three. Affymetrix has annual revenues of approximately $350 million and will be integrated within Thermo Fisher’s Life Sciences Solutions business unit.
Immune-Oncology Molecules In Development & Articles on Topic in @pharmaceuticalintelligence.com
Curators: Stephen J Williams, PhD and Aviva Lev-Ari, PhD, RN
UPDATED on 06/16/2026
Since 2020, the FDA has significantly expanded the immuno-oncology (IO) landscape, approving several novel agents and expanding existing immunotherapies (e.g., checkpoint inhibitors, CAR-T, bispecific antibodies) for early-stage and metastatic solid and hematologic tumors.
Major novel immuno-oncology drugs and foundational indication expansions include:
Tarlatamab-dlle {Imdelltra}: Approved in 2024 for extensive-stage small cell lung cancer (SCLC) that has progressed on or after platinum-based chemotherapy.
Epcoritamab {Epkinly}: Approved in 2023-2024 for relapsed/refractory follicular lymphoma and diffuse large B-cell lymphoma (DLBCL).
Teclistamab {Tecvayli}: Approved in 2022 as the first bispecific T-cell engager for heavily pretreated relapsed or refractory multiple myeloma.
Nivolumab + Relatlimab {Opdualag}: Approved in 2022, introducing a first-in-class dual checkpoint inhibitor combination (LAG-3 and PD-1 blockade) for advanced melanoma. [1, 2, 3, 4]
Pembrolizumab {Keytruda}+ Enfortumab Vedotin {Padcev} Approved for previously untreated, locally advanced, or metastatic urothelial cancer, redefining first-line therapy. [1]
Durvalumab {Imfinzi}: Saw significant label expansions, including perioperative use in early-stage non-small cell lung cancer (NSCLC) and for biliary tract cancer. [1]
3. Cellular Therapies (CAR-T)
Lisocabtagene maraleucel {Breyanzi}: A CD19-directed CAR-T cell therapy approved in 2021 for relapsed or refractory large B-cell lymphoma, and later expanded.
Ciltacabtagene autoleucel{Carvykti}: Approved in 2022 for relapsed or refractory multiple myeloma. [1, 2, 3, 4, 5]
4. Cytokine Therapies & New Formulations
Subcutaneous Immunotherapies: The FDA approved faster, subcutaneous (under the skin) injection formulations of established blockbusters, such as Tecentriq Hybreza (atezolizumab and hyaluronidase) and Darzalex Faspro (daratumumab and hyaluronidase)
Let’s see if Merck‘s acquisition history offers some clues!
Looking at 32 acquisitions over the past 20 years, one thing stands out:
It is not what Merck bought.
It is what Merck did NOT buy!
Despite Keytruda becoming one of the most successful oncology drugs in history, Merck has not made a major acquisition in several of the hottest post-Keytruda modalities:
• CAR-T
• T-cell engagers
• Radiopharmaceuticals
• Cell therapies
Instead, the company’s oncology acquisitions have largely focused on:
• Small molecules
• ADCs
• Cancer vaccines
• Immune-modulating platforms
Deals such as VelosBio, Tilos, Viralytics, Rigontec, Immune Design, and more recently, Terns Pharmaceuticals and Modifi Bio, expanded Merck’s oncology pipeline but were not obvious “next Keytruda” bets.
At the same time, Merck deployed significant capital outside oncology:
• Acceleron → Cardiovascular
• Prometheus → Immunology
• Verona → Pulmonology
• Cidara → Infectious Diseases
The acquisition record suggests a different strategy.
Rather than betting on a single successor to Keytruda, Merck appears to be building multiple future growth pillars across therapeutic areas and technologies.
Perhaps the real question is not:
“What will replace Keytruda?”
But:
“Does Merck even want a single replacement?”
UPDATED on 10/2/2018
2018 Nobel Prize in Physiology or Medicine for contributions to Cancer Immunotherapy to James P. Allison, Ph.D., of the University of Texas, M.D. Anderson Cancer Center, Houston, Texas. Dr. Allison shares the prize with Tasuku Honjo, M.D., Ph.D.,of Kyoto University Institute, Japan
FDA has approved the world’s first CAR-T therapy, Novartis for Kymriah (tisagenlecleucel) and Gilead’s $12 billion buy of Kite Pharma, no approved drug and Canakinumab for Lung Cancer (may be?)
Novartis’ Kymriah (tisagenlecleucel), FDA approved genetically engineered immune cells, would charge $475,000 per patient, will use Programs that Payers will pay only for Responding Patients
Kite Pharma ($KITE) climbs after Phase II data tee up FDA filing for CAR-T
Kite Pharma ($KITE) has posted an interim analysis of Phase II CAR-T data it thinks are strong enough to support regulatory approval. The CAR-T triggered complete remissions in 47% of patients with an aggressive form of non-Hodgkin lymphoma (NHL), although a dropoff in the number of responders over the first three months has raised questions about durability.
At the time of the interim analysis, Kite had administered its CD19-targeting CAR-T to 51 patients with chemorefractory diffuse large B-cell lymphoma (DLBCL). More than three quarters of patients experienced an objective response. Close to half experienced complete remission. When paired to stronger data from a small group of patients with transformed follicular lymphoma (TFL) and primary mediastinal B-cell lymphoma (PMBCL), Kite thinks the interim analysis boosts its prospects.
Amgen Announces Top-Line Results From Phase 3 KYPROLIS® (Carfilzomib) CLARION Study In Newly Diagnosed Multiple Myeloma Patients
Amgen to Hold Analyst Call Today at 8:30 a.m. ET
THOUSAND OAKS, Calif., Sept. 27, 2016 /PRNewswire/ — Amgen (NASDAQ:AMGN) today announced top-line results of the Phase 3 CLARION trial, which evaluated an investigational regimen of KYPROLIS® (carfilzomib), melphalan and prednisone (KMP) versus Velcade® (bortezomib), melphalan and prednisone (VMP) for 54 weeks in patients with newly diagnosed multiple myeloma who were ineligible for hematopoietic stem-cell transplant. The trial did not meet the primary endpoint of superiority in progression-free survival (PFS) (median PFS 22.3 months for KMP versus 22.1 months for VMP, HR = 0.91, 95 percent CI, 0.75 – 1.10). While the data for overall survival, a secondary endpoint, are not yet mature, the observed hazard ratio (KMP versus VMP) was 1.21 (95 percent CI, 0.90 – 1.64). Neither result was statistically significant.
Overall, the adverse events in the KMP arm were consistent with the known safety profile of KYPROLIS. The incidence of Grade 3 or higher adverse events was 74.7 percent in the KMP arm and 76.2 percent in the VMP arm. Fatal treatment-emergent adverse events occurred in 6.5 percent of KMP patients and 4.3 percent of VMP patients. The incidence of Grade 2 or higher peripheral neuropathy, a secondary endpoint, was 2.5 percent in the KMP arm and 35.1 percent in the VMP arm.
Cancer researchers see promise in giving patients combinations of multiple drugs that are proving more effective than one or two. But the strategy poses a dilemma for health insurers and patients: even higher prices.
Combination Drug Therapies for Cancer Show Promise at Higher Potential Cost
‘Group discounts’ suggested as one means of cutting cost of medicines in a combination regimen
Low-cost 3-D printer-based organ model production technique reveals complicated interior organ structure
Reporter by: Irina Robu, PhD
A low cost human organ model production technique was developed by University of Tsukuba in conjunction with Dai Nippon Printing Co., Ltd. (DNP) for use with 3D printers that helps reveal intricate interior organ structure.
Professor Jun Mitani of the Faculty of Engineering, Information and Systems at the University of Tsukuba, Professor Nobuhiro Ohkohchi and Lecturer Yukio Oshiro of the Faculty of Medicine collaborated with DNP to produce human organ model that makes internal structures easier to see. The technique will cost as low as 1/3 compared to those for presently presented technology.
It is expected that the penetration of the new technique will lead to the promotion of clinical site applications.
Novartis continues to grow immuno-oncology pipeline through collaboration and licensing agreement with Surface Oncology
Reporter: Gerard Loiseau, ESQ
Basel, January 11, 2016 – Novartis announced today that it is adding to its diverse and deep immuno-oncology pipeline through a strategic alliance and licensing agreement with Surface Oncology. The agreement gives Novartis access to four pre-clinical programs that target regulatory T cell populations, inhibitory cytokines, and immunosuppressive metabolites in the tumor microenvironment. These programs will be explored as monotherapies and in combination with other complementary therapies in Novartis’ immuno-oncology and targeted therapy portfolios.
“We have several programs now in the clinic that aggressively address the complexities of the tumor microenvironment,” said Mark Fishman, President of the Novartis Institutes for BioMedical Research. “This alliance with Surface Oncology is another building block in our strategy to develop a portfolio of programs that we believe will lead the next wave of immuno-oncology medicines.
” At the start of 2015 Novartis launched a new immuno-oncology research team led by cancer vaccine pioneer Glenn Dranoff. In a short period of time, this team has rapidly built a broad portfolio of clinical and pre-clinical programs focused on stimulating the body’s immune system to combat cancers through targeting critical regulatory steps in the anti-tumor immune response. Today the company’s immuno-oncology portfolio includes
STING agonists that enhance immune recognition of cancers, and
adenosine receptor antagonists and
TGF beta blocking antibodies that overcome immunosuppression in the tumor microenvironment.
Seven of these candidates are already in clinical trials and five more are expected to enter the clinic individually and as combinations by the end of 2016.
Novartis’ myeloid cell targeting program (MCS110),
anti-TIM-3 program (MGB453),
IL-15-agonist (NIZ985)
checkpoint inhibitors targeting PD-1 (PDR001) and
LAG-3 (LAG525), and
a small molecule adenosine receptor antagonist (NIR178)
are now in phase 1 clinical trials.
The CART program (CTL019) is in phase 2 clinical trials.
A STING agonist (MIW815), a GITR agonist, and an anti-TGF-beta antibody
are progressing toward first-in-human clinical trials in 2016.
This rich immuno-oncology pipeline together with a deep targeted therapy portfolio provides Novartis with the opportunity to attack cancer in powerful and complementary ways: through enhancing immune-mediated tumor destruction and promoting direct 2/3 tumor cell killing. Together, these synergistic approaches may accomplish more durable clinical benefits for a larger proportion of cancer patients.
Controls blood type. The study results showed that centenarians are more likely to have the O blood group than controls. People with blood type O have been reported to be protected from coronary heart disease, cancer, and have lower cholesterol levels.
For cardiovascular disease, this locus shows the strongest association of any locus in the genome, with each copy of the risk allele increasing one’s risk of disease by 20–30%.
3. APOE/TOMM40
APOE was initially investigated because its ɛ4 allele was known to increase the risk of Alzheimer’sand coronary artery disease, and in the study the disease-allele was shown to be depleted in long-lived populations.
There was also a relationship between the locus and incidence of age-related macular degeneration (vision loss) and total cholesterol levels.
4. SH2B3/ATXN2
Variation in this locus has been associated with a wide variety of diseases, including rheumatoid arthritis, type 2 diabetes, coronary artery disease, blood pressure and cholesterol levels.
iGWAS analysis also showed a protective SNPagainst lung and pancreatic cancers and promoting good bone mineral density. SH2B3 specifically encodes a signaling protein, and loss-of-function mutations in the invertebrate equivalent gene (Lnk) in fruit flies (Drosophila) was also shown to result in an extended lifespan.
Life Science Nation (LSN) is thrilled to be back at the annual healthcare conference week for our second RESI San Francisco event. It’s the largest RESI conference yet, with over 700 registered attendees, including over 300 early stage global investors!
We’re delighted that RESI has garnered this enthusiastic audience during a very busy week for the life science industry. We’ve expanded the bandwidth of RESI Partnering in order to offer more opportunities for RESI attendees to connect with each other face-to-face. By using the RESI Partnering system to nd fellow attendees based on t, you can nd meeting partners who align with your focus. With that match as a basis, RESI is a venue for compelling conversations between startups and investors in the life science space.
LSN would like to extend our thanks to the speakers who are participating in RESI’s two Investor Panel tracks, and the presenters of the RESI Workshops. We’re very glad that you’re here to share your expertise with the entrepreneurs and investors who attend RESI.
We’d also like to bring your attention to the RESI Innovation Challenge. The RESI Innovators are showcasing cutting-edge life science technologies in poster displays throughout the exhibit hall. Inside your RESI badge you’ll nd ve tokens of RESI Cash you can use to “invest” in the most promising of these technologies. Take the time to invest your RESI Cash wisely, and join us at the evening reception as we announce the winners!
Thank you for joining us and making this the biggest RESI yet. We’re excited to be here for the rst stop on RESI’s 2016 tour. We hope to see you later this year in Houston, Toronto, and Boston. Until then, enjoy the show!
The Redefining Early Stage Investments (RESI) Conference is an ongoing conference series that will be establishing a global circuit for early stage life sciences companies to source investors, create relationships, and eventually, get funding. The RESI conference focuses on the diverse breadth of early stage investors that LSN tracks, including Family Offices, Venture Philanthropy Funds, VCs, Angel Groups, Corporate Venture Capital Funds, and more. The RESI Partnering Forum allows fundraising executives to identify and book up to 16 meetings with life science investors who fit their company’s technology sector and stage of development. Additionally, through an expansive series of panels and workshops, attendees will have the chance to hear firsthand accounts from investors explaining their current investment mandates and process for identifying and qualifying candidates.
Firms seeking strategic partnerships to build their companies
Investors looking to source emerging technology
CEOs seeking to parse the latest trends in the new investor landscape
RESI is designed to fill the void left by traditional investors by creating and qualifying 10 new categories of investors, including Family Offices, Venture Philanthropy, Patient Groups, Corporate Development, Virtual Pharma, Endowments, Foundation, and Angels.
RESI creates meetings based on a common fit, which promotes compelling conversations, facilitating the development of qualified investor relationships.
RESI recruits conference partners from leading edge incubators and expert scientists from private emerging biotech & medtech firms all over the world.
How is RESI Different?
The shift within the life science investor landscape
The RESI Innovation Challenge is a virtual investment contest, and the investor is you!
As you explore the exhibit hall, you will encounter 30 RESI Innovators showcasing their technology via poster displays. Along with your RESI attendee badge, you will nd ve RESI Cash tokens that you can use to ‘invest’ in the most promising RESI Innovators.
Take a look around this collection of cutting-edge life science technology, and leave your RESI Cash with the entrepreneurs that most inspire you. The invested capital will be tallied up and the top three winners will be awarded during the cocktail reception at the end of the day.
Winners will be featured in the Life Science Nation (LSN) newsletter with readership of 20,000.
• First Prize: Complimentary tickets to 3 RESI Conference Series events of your choice (2 tickets per event)
• Second Prize: Complimentary tickets to 2 RESI Conference Series events of your choice (2 tickets per event)
• Third Prize: Complimentary tickets to 1 RESI Conference Series event of your choice (2 tickets)
Immuno-Oncology Combination Therapy: Implications For Major Pharma
Reporter: Aviva Lev-Ari, PhD, RN
J.P.Morgans report The Next-Wave of Immuno-Oncology Thoughts On Combination Therapy and The Implications For Major Pharma comprises an Appendix. On pages 64-67 in a Table format all Immuno-Oncology Drugs are classified by Clinical Trial Phase, by Major Pharma developer, indication and Mechanism of Action. These pages are a representation of the global Pharmaceutical market development of Immuno-Oncology drugs and the Combination Drug Therapy demonstrating prospects in tumor cell therapy and potential cure of cancer by type.
The Next-Wave of Immuno-Oncology Thoughts On Combination Therapy and The Implications For Major Pharma
Top 10 Little White Lies Told At The JP Morgan Healthcare Conference
Next week kicks off the biggest healthcare investor meeting of the year in San Francisco. It’s a giant circus of activity revolving around the Westin St Francis in Union Square, with more than 10,000 people gathered from biotech, pharma, startups, public equity funds, VCs, banks, law firms, search firms, and anyone else affiliated with healthcare. It’s the biggest annual festival on the healthcare investment calendar.
So in the spirit of kicking things off in 2014 with an ill-advised attempt at humor, here’s a Top 10 list focused on the little white lies that VCs are likely to tell each other, VCs will tell Pharma/Biotech, or vice versa.
10.“We should really do a deal together this year.” Translation: Come find me when you have a great deal you want to syndicate and have done all the heavy lifting already. Or we’ll just have this dialogue again next year, like last year.
9. “We only have one or two more bullets in our current fund.” Translation: We have no more bullets in the current fund. But we think we are good at faking it.
8. “Our latest fund is top quartile.” Translation: Our fund is on the shores of Lake Wobegon, right next door to most other VCs.
7. “We add more than just capital.” Translation: We are thinking of “rolling our sleeves up” and replacing you. Translation #2: We definitely will add more chaos to Board meetings.
6. “We’ve got a ton of Pharma interest in this deal.” Translation: Our next meeting is actually with a Pharma company. Translation #2: You should have seen me work the room at the Pharma Reception last night.
5. “We’re talking to bankers.” Translation: you have a pulse. Everyone talks to bankers these days. And bankers talk to everyone.
4. “We are really keen to find ways of working with you in 2014.” Translation (when VC to Pharma): which of our portfolio companies would you like to buy in 2014?
3. “That was a great discussion of your portfolio/company; thanks – we’ll be in touch.” Translation: We won’t likely be in touch, at least until scheduling the 2015 JPM meeting. But thanks for chatting with us.
2. “You guys don’t seem like other VCs.” Translation: You just might be an even bigger #@!$ than the other VCs we’ve met.
1. “I hate JPM.” Translation: Hate to admit it, I love this meeting – especially having a “business” reason to stay up until 2am drinking at the Red Room.
2012pharmaceutical
sjwilliamspa
👑 𝗔𝗳𝘁𝗲𝗿 𝗞𝗲𝘆𝘁𝗿𝘂𝗱𝗮: 𝗪𝗵𝗲𝗿𝗲 𝗜𝘀 𝗠𝗲𝗿𝗰𝗸’𝘀 𝗡𝗲𝘅𝘁 𝗞𝗶𝗻𝗴?
Everyone talks about what comes after Keytruda.
Let’s see if Merck‘s acquisition history offers some clues!
Looking at 32 acquisitions over the past 20 years, one thing stands out:
It is not what Merck bought.
It is what Merck did NOT buy!
Despite Keytruda becoming one of the most successful oncology drugs in history, Merck has not made a major acquisition in several of the hottest post-Keytruda modalities:
• CAR-T
• T-cell engagers
• Radiopharmaceuticals
• Cell therapies
Instead, the company’s oncology acquisitions have largely focused on:
• Small molecules
• ADCs
• Cancer vaccines
• Immune-modulating platforms
Deals such as VelosBio, Tilos, Viralytics, Rigontec, Immune Design, and more recently, Terns Pharmaceuticals and Modifi Bio, expanded Merck’s oncology pipeline but were not obvious “next Keytruda” bets.
At the same time, Merck deployed significant capital outside oncology:
• Acceleron → Cardiovascular
• Prometheus → Immunology
• Verona → Pulmonology
• Cidara → Infectious Diseases
The acquisition record suggests a different strategy.
Rather than betting on a single successor to Keytruda, Merck appears to be building multiple future growth pillars across therapeutic areas and technologies.
Perhaps the real question is not:
“What will replace Keytruda?”
But:
“Does Merck even want a single replacement?”