Monday, June 27, 2011

Genentech warms biotechs, shareholders with deals

The big biotech financing chill isn’t necessarily thawing after three years, but companies at least are finding creative ways to warm shareholders.
An example: Genentech Inc.’s deal Monday with Forma Therapeutics. The “asset acquisition” deal is a unique way of putting money in the hands of Cambridge, Mass.-based Forma’s backers — including the likes of Lilly Ventures and Bio-One Capital of Singapore — while giving South San Francisco-based Genentech control over development of a potential cancer treatment.

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