Name BP in the world that buys a pre revenue biotech before approv
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It’s uncommon for big pharmaceutical companies (BPs) to acquire pre-revenue biotech firms before their products receive regulatory approval, but it does happen, particularly when the biotech's technology or pipeline shows significant promise. Here are a few examples of such acquisitions:
1. **Gilead Sciences / Kite Pharma (2017)**: Gilead acquired Kite Pharma for $11.9 billion while Kite was still a pre-revenue company focused on developing CAR-T therapies for cancer. Kite's lead product, Yescarta, was approved shortly after the acquisition.
2. **Roche / Flatiron Health (2018)**: Roche acquired Flatiron Health for $1.9 billion. Although Flatiron wasn't developing drugs, it was a pre-revenue company focused on healthcare data and software, which Roche believed could enhance its oncology pipeline.
3. **Bristol-Myers Squibb / Juno Therapeutics (2018)**: Bristol-Myers Squibb acquired Juno Therapeutics for $9 billion while Juno was still a pre-revenue company working on CAR-T therapies for cancer.
4. **Novartis / AveXis (2018)**: Novartis acquired AveXis for $8.7 billion. At the time of acquisition, AveXis was pre-revenue and its gene therapy for spinal muscular atrophy, Zolgensma, was not yet approved.
These acquisitions highlight the significant interest major pharmaceutical companies have in innovative biotech firms, even before their products have received approval, due to the potential for high-impact therapies that can transform markets.
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