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Ottimo Pharma has launched under the leadership of former Seagen CEO David Epstein, focusing on a bi-functional antibody, jankistomig, that targets both PD-1 and VEGFR2 to enhance cancer immunotherapy. The startup aims to initiate its first clinical trial next year, with backing from Medicxi. Epstein emphasizes the drug's potential to significantly benefit patients with various solid tumors, while industry veterans Mehdi Shahidi and James Sabry join the team to drive development and strategy.
David Epstein, the former CEO of Seagen Inc., has launched a new biotech company, Ottimo Pharma, focused on developing a drug that addresses multiple cancer vulnerabilities. This innovative approach includes targeting a protein associated with Merck & Co.'s successful treatment, Keytruda. The company emerged after four years of development in secrecy.
In 2023, the Life Sciences sector saw a resurgence in mergers and acquisitions, with M&A investments reaching $191 billion, a 40% increase from 2022. Despite a 6% decline in transaction volume to 118 deals, major pharmaceutical companies dominated, accounting for 69% of the total investments. This trend reflects a strategic shift towards ambitious growth initiatives amid revenue pressures and the impending loss of exclusivity for key drugs.
Seagen Inc.
Companies
| Symbol | SGEN |
| Name | Seagen Inc. |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Biotechnology |
| Market | NASDAQ Global Select |
| Country | United States |
| State | WA |
| City | Bothell |
| Zipcode | 98021 |
| Website | http://www.seagen.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
oncology startup ottimo pharma emerges with innovative dual-pathway cancer drug
Seagen Inc.
Pfizer Inc.
Hoffmann-La Roche AG
BioNTech SE
Bristol-Myers Squibb Company
Merck & Co., Inc.
Mehdi Shahidi
James Sabry
David Epstein
Show more
11:52 28.10.2024
former seagen ceo launches ottimo pharma to combat various cancers
09:30 28.10.2024
pharmaceutical sector sees resurgence in mergers and acquisitions in 2023
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