With 'breakthrough' skin cancer drug, Bay Area drug maker lands $70M

On the cusp of taking its drug into a late-stage clinical trial for a rare genetic skin condition, a small San Francisco drug developer scored a potential $760 million deal with Danish drug maker Leo Pharma A/S. The pact, including an initial $70 million in equity and research-and-development support, gives PellePharm Inc. enough money to complete the Phase III study in people with Gorlin Syndrome. That skin condition today, while not a health threat, can lead to as many as 30 procedures a year…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news