Servier completed its acquisition of Day One Biopharmaceuticals and its buyout of Edgewise Therapeutics’ neuromuscular business is expected to close later this year. At the BIO International Convention, Servier’s top business development executive explained the rationale for these deals and how they fit the company’s overall strategy.
France-based pharma company Servier is acquiring the muscular dystrophy business of Edgewise Therapeutics as part of a revenue growth strategy in oncology and neurology. The deal brings an Edgewise drug in clinical development for two rare neuromuscular disorders with limited treatment options.
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Design Therapeutics raised $240 million in the biggest biotech IPO this week. One other rare disease drug developer went public along with two oncology biotechs as the IPO momentum continues.