MoFo BioMeter - Vol. 2, Issue 4, November 2013 - Q3 BioMeter Shows Strong Early Stage Deals

The average BioMeter value in the third quarter of 2013 was $30.4 million, an increase from the $22.2 million value in the second quarter. Like last quarter, Phase 1 and Phase 2 transactions showed very strong results, with the BioMeter value for Phase 1 transactions increasing to $54.0 million in the third quarter from $39.3 million in the second quarter, and the BioMeter value for Phase 2 transactions increasing to $67.3 million in the third quarter from $38.1 million in the second quarter. Phase 2 results were influenced by the $175 million up-front payment from AbbVie to Ablynx for the experimental drug ALX-061 to treat rheumatoid arthritis and lupus. Excluding this transaction, the BioMeter for Phase 2 transactions in the third quarter would have been $31.4 million, down slightly from last quarter. Phase 1 results were influenced by the MorphoSys/Cellgene transaction, which included a $92 million up-front payment.

The BioMeter value for pre-clinical and discovery transactions also increased to $22.3 million in the third quarter from $10.5 million in the second quarter, across twelve transactions, and was the largest category of transactions. Leading the way in pre-clinical and discovery transactions were the $100 million up-front payment from Biogen to Isis and the $45 million upfront payment from AbbVie to Galapagos. These transactions demonstrate the value of proprietary platform technologies.

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Topics:  Biotechnology, Pharmaceutical, Prescription Drugs

Published In: Finance & Banking Updates, Science, Computers & Technology Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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