All articles tagged with #iveric bio
The FDA has approved Iveric Bio's geographic atrophy treatment, making it the second drug to be cleared for a leading cause of blindness. Iveric Bio will launch the treatment, called Izervay, in the coming weeks at a cost of $2,100 per single-dose vial. This approval strengthens the case for Astellas' recent acquisition of Iveric Bio and follows a previous approval for competitor Apellis.
Astellas Pharma has announced its acquisition of Iveric Bio for $5.9 billion in cash, as the Tokyo-based drugmaker prepares for a potential showdown with Apellis Pharmaceuticals in geographic atrophy. The deal comes amid a string of buyouts by Big Pharmas in recent weeks, as they hunt for late-stage drug candidates to boost their aging pipelines.
Sanofi will pay $150 million upfront and future equity to acquire Maze Therapeutics' Pompe disease program, with the potential for an additional $600 million in biobucks. Astellas Pharma will acquire Iveric Bio for $5.9 billion in cash, while Acelyrin plans to raise $370 million in one of the biggest biotech IPOs in recent years. Ovid Therapeutics is partnering with Graviton Bioscience to develop multiple second-generation ROCK2 inhibitors, and Initial Therapeutics has launched with $75 million to develop protein-based drugs. Meanwhile, AbbVie has discontinued its mid-stage cystic fibrosis program, and an FDA advisory committee has voted against AstraZeneca and Merck's bid to expand the label for Lynparza.
Japanese pharmaceutical company Astellas is set to acquire US biotech firm Iveric Bio for $5.9bn in a deal that will expand its ophthalmology portfolio. The acquisition will give Astellas access to Iveric Bio's gene therapy platform and pipeline of treatments for retinal diseases.
Astellas Pharma has agreed to acquire US drugmaker Iveric Bio for $5.9bn, its biggest acquisition to date, giving it access to a range of ophthalmology treatments. The deal is the fifth major overseas acquisition by Astellas since 2019 in a push to shore up its pipeline as its main sellers lose patent protection. Iveric is focused on developing treatments for retinal diseases, with its key asset being avacincaptad pegol (ACP), currently in trials for treating geographic atrophy, the advanced stage of macular degeneration.