In Advance Of Pharma Partnership, Intarcia Inks Equity Deal With Quintiles
This article was originally published in The Pink Sheet Daily
The CRO will conduct Phase III trials on an implantable device that delivers exenatide to Type 2 diabetes patients, while an anticipated pharma partner will help commercialize it around the world.
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Biopharmaceutical companies have been outsourcing R&D activity to CROs for a while, but neither they nor CROs have sorted out which side should bear the burden of what kind of risk and how to best structure operations.
Slated for May 9, this offering for the largest CRO is expected to attract a wide range of investors, including health care specialists and growth-oriented generalists. The IPO filing shows how the biopharma industry is rebounding. But the CRO’s risk-sharing projects with pharma, which gained attention in recent years, don’t seem to be that productive.
Rather than partner its implantable formulation of exenatide, the biotech turned to hedge funds and other non-traditional investors for the year’s largest round of private capital. The deal enables Intarcia to begin Phase III trials on lead program ITCA-650 for type 2 diabetes, which it believes could be a blockbuster.