OSI Buys Eyetech, Market Rubs Eyes
Executive Summary
Not the most obvious of biotech-biotech combinations. OSI thinks it can make money from Eyetech's lone product pegaptanib (Macugen), a breakthrough new treatment for age-related macular degeneration. The market has reacted poorly to the deal, worried that Macugen will be made obsolete by Genentech's Lucentis, due to be launched in late 2006.
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Archemix Reduces Aperture to Pursue Orphan Diseases
Archemix has consolidated IP in the aptamer space and enjoyed success in partnering its technology. But public markets have frozen the company out and it is now focusing on orphan hematologic diseases. The move should help the company conserve cash while creating earlier out-licensing opportunities as Archemix transitions into later-stage development.
Archemix Reduces Aperture to Pursue Orphan Diseases
Archemix has consolidated IP in the aptamer space and enjoyed success in partnering its technology. But public markets have frozen the company out and it is now focusing on orphan hematologic diseases. The move should help the company conserve cash while creating earlier out-licensing opportunities as Archemix transitions into later-stage development.