Business in Brief
Allergan and Editas join forces, Carl Zeiss win a patent infringement case, and more…
Roisin McGuigan |
- Pharmaceutical giant Allergan has entered into an R&D agreement with new kid on the block and CRISPR specialist Editas Medicine to discover and develop therapies based on genome-editing for ocular diseases. Editas will receive $90 million upfront while Allergan will be able to license up to five candidate programs targeting eye disease. The first could be a lead candidate for Leber Congenital Amaurosis (LCA10) that is currently in the preclinical stage but predicted to enter the clinic later this year.
- Bill Ackman has announced that Pershing Square Capital Management has sold all shares in Valeant, and says that he is “deeply and profoundly” sorry for his investment in Valeant, writing in a letter “Clearly, our investment in Valeant was a huge mistake. We deeply regret this mistake, which has cost all of us a tremendous amount, and which has damaged the record of success of our firm.”
- Meanwhile, Valeant’s former CEO, Michael Pearson, is suing the company, claiming that it failed to pay him three million shares as part of his exit package.