Who else wanted to buy IvericIveric? Before the $5.9B Astellas deal, five biopharma companies took a look
23 May 2023
Drug ApprovalAcquisition
Two years ago, as Iveric Bio went through late-stage studies of its main experimental drug, it began attracting interest from potential buyers. Five companies ended up in early-stage discussions with the biotech at the time, and others would express interest later on, though ultimately, only one would make a bid to buy it.
Iveric ended up striking a
$5.9 billion deal
with Astellas in April. An SEC filing details the run-up to the takeover, showing Astellas was the sole formal bidder on Iveric despite drawing general interest from a handful of biopharmas. Iveric’s key drug, called Zimura or avacincaptad pegol, is
up for an FDA approval decision in August
to treat geographic atrophy, a serious eye disease that can lead to blinding.
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