Chimerix to sell smallpox vaccine
DURHAM, NC–Almost a year after getting approval from the FDA, biopharmaceutical company Chimerix plans to sell its lone product, a smallpox treatment called Tembexa, to Emergent BioSolutions, Inc. in a deal worth up to $337.5 million. Chimerix, which plans to use the money to pursue cancer treatments, will receive $225 million upfront plus up to an additional $112.5 million in milestone payments.
$1.6M awarded to research projects
ANN ARBOR, MI–The Michigan Translational Research and Commercialization (MTRAC) Innovation Hub for Life Sciences at the University of Michigan (U-M) recently awarded a combined $1.6 million in funding to nine translational research projects with high commercial potential led by researchers at U-M, Wayne State University, Beaumont Health System, and Grand Valley State University.
Pittsburgh biotech acquired by London company
PITTSBURGH, PA–An American medical products company based in London is acquiring Pittsburgh biotech icon ALung Technologies Inc. Included in the sales price is $10 million payable at closing and upon reaching certain sales milestones. ALung Technologies created HemoLung, a product that helps patients with acute respiratory distress.
ST. LOUIS, MO–Digital health startup Sparo has been acquired by Connecticut-based Wellinks. Both companies are focused on the treatment of respiratory conditions. Sparo co-founder Andrew Brimer said, “Joining Wellinks enables us to apply our years of research and development to improving the health of a broader network of members.” Sparo was founded in 2012 by Brimer and Abby Cohen, both of whom were named to Forbes’ 2018 “30 Under 30” list for their leadership and vision.