MoFo BioMeter, Volume 3, Issue 4

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Q3 BioMeter Shows Reemergence of Late Stage Deals -

The average BioMeter value in the third quarter of 2014 was $43.7 million, an increase from the $30.4 million value in the same quarter in 2013, and a slight increase from the blockbusterexcluding value of $41.7 million in the second quarter of 2014. When the two second quarter blockbuster deals (the $1 billion Merck/Bayer deal for a family of soluble guanylate cyclase modulators, and the $710 million Celgene/Nogra deal for a Phase 2 Crohn’s disease drug) are included, the third quarter BioMeter is down compared to $143 million in the second quarter.

Leading the way in the third quarter were transactions for Phase 3 and approved products, with average BioMeter values of $83.3 million and $86.7 million, respectively. Even more striking this quarter was the number of deals in these categories, with seven announced Phase 3 transactions that disclosed up-front payments, and five announced transactions for approved products that disclosed up-front payments. The BioMeter values, combined with the relatively large numbers of transactions in these categories, are the strongest we’ve seen since we started reporting quarterly BioMeter values.

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