While San Diego-based Pfenex's primary focus isn't on vaccines, the company gained a big backer in the space Monday with the announcement that the U.S. government has agreed to work with the biotech on its anthrax vaccine candidate for bioterror protection.
Biosimilars outfit Pfenex signed a deal worth as much as $143.5 million to develop an anthrax vaccine for the U.S. government's biomedical research division.
Six biotechs were expected to go public this week, eyeing nearly $400 million combined, but that potential has so far amounted to one deeply discounted offering, one bottom-of-the-range debut and one outright cancelation.
After Sage Therapeutics staged a stellar debut on Friday, 6 more drug developers are expected to price IPOs this week, looking to buck some bearish trends in biotech and raise about $400 million combined.
San Diego biotech Pfenex has evolved from helping Big Pharma craft large-molecule therapies to developing biosimilars of its own, and now the company is looking to raise about $74.8 million to cash in on the coming boom in biologic knockoffs.
San Diego-based start-up Pfenex hasn't wasted any time in getting partnered up with a Big Pharma collaborator. The Dow Chemical spinout, which made its debut last week, announced a $52 million