Switzerland $303 Billion Pharmaceutical Giant Roche to Buy United States Biotech Firm 89bio for $3.5 Billion (Upfront $2.4 Billion), 89bio Founded in 2018 by OrbiMed Israel & OrbiMed US
20th September | Hong Kong
Switzerland pharmaceutical giant Roche ($303 billion market value) has announced to buy United States biotech firm 89bio for $3.5 billion (Upfront $2.4 billion). 89bio was founded in 2018 by OrbiMed Israel & OrbiMed US. Roche – Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. The combined strengths of pharmaceuticals and diagnostics under one roof have made Roche the leader in personalised healthcare – a strategy that aims to fit the right treatment to each patient in the best way possible. Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. Founded in 1896, Roche continues to search for better ways to prevent, diagnose and treat diseases and make a sustainable contribution to society. The company also aims to improve patient access to medical innovations by working with all relevant stakeholders. Thirty medicines developed by Roche are included in the World Health Organization Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and cancer medicines. Roche has been recognised as the Group Leader in sustainability within the Pharmaceuticals, Biotechnology & Life Sciences Industry ten years in a row by the Dow Jones Sustainability Indices (DJSI). 89bio – 89bio is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases. The company’s lead product candidate, BIO89-100, is a specifically engineered glycoPEGylated analog of FGF21. BIO89-100 is being developed for the treatment of nonalcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG). Recent Phase 1b/2a data show BIO89-100 demonstrated a favorable safety and tolerability profile and robust reductions in liver fat and key lipid markers when dosed weekly or once every two weeks in patients with NASH. BIO89-100 is currently in a Phase 2 trial for the treatment of SHTG. 89bio is headquartered in San Francisco with operations in Herzliya, Israel.
“ Switzerland $303 Billion Pharmaceutical Giant Roche to Buy United States Biotech Firm 89bio for $3.5 Billion (Upfront $2.4 Billion), 89bio Founded in 2018 by OrbiMed Israel & OrbiMed US “
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Switzerland $303 Billion Pharmaceutical Giant Roche to Buy United States Biotech Firm 89bio for $3.5 Billion (Upfront $2.4 Billion), 89bio Founded in 2018 by OrbiMed Israel & OrbiMed US
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