The Biotech industry relies a lot on partnering and deals. And 2015 has already been an active year.
This was the theme of the second keynote conference from BIO-Europe 2015. It gathered four high-level speakers:
The roundtable started with a summary of each companies’ activity in deals. Everyone has been busy, but Celgene seemed to be especially active in the first half of the year. As Golumbeski pointed out: it made a major immuno-oncology (PD-L1) deal with AstraZeneca, signed a $1 billion dollars upfront deal with CAR-T company Juno Therapeutics and bought Receptos for $7.2Bn.
A good starting point for the discussion, which started around the many IPOs which occurred since 2014. The moderator asked:
How does that impact your ‘deal activity’?
Golumbeski answered first: this provides an additional options for smaller Biotechs in addition to partnering. Also, the high valuation of Biotechs protects them from bigger Biotechs/Pharma willing to acquire the assets.
Gaal from Almirall was on the same line.