BioPharma Dive May 22, 2024
The pharma participated in the startup’s Series A round, has committed to invest another $80 million, and could acquire the company within the next two years.
A new obesity drug developer from investment firm Versant Ventures is starting up with a deal to possibly sell itself to AstraZeneca.
The startup, called SixPeaks Bio, launched Wednesday with $30 million in Series A funding led by Versant and involving AstraZeneca. Alongside the funding, the company also announced a collaboration that will see the British drugmaker provide up to $80 million in financing over the next two years. Over that time, AstraZeneca has an exclusive chance to buy SixPeaks at an agreed-upon price once the biotech is ready to bring its lead drug...
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