Symphony's Project Financing Model Adapts
As Wall Street fails to significantly reward companies with strong clinical news, the fall-out also affects the project financiers, like Symphony Capital -- an increasingly important alternative to traditional equity or alliance financing. On one hand, the hard times make Symphony's expensive-looking capital increasingly attractive to biotechs, including companies that once would have had plenty of other financing alternatives. On the other, Symphony's model is shifting more toward equity investing. It's still financing projects, but it's padding its upside with a lot more cheap stock.
You may also be interested in...
Symphony Capital pioneered an alternative project financing model to accelerate drug development that met with mixed success. With its 2.0 retool, Symphony hopes to transition the model to larger cap companies better able to weather down markets.
Astellas Pharma is making forays into the vaccines segment, with the support of development firm ClearPath Development Company to accelerate the process.
Astellas Pharma Inc. is making forays into the vaccines segment, with the support of development firm ClearPath Development Company to accelerate the process.