Pfizer x Seagen, Bicara, Tome Biosciences

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Hi there, everybody. Damian right here with an introduction to an rising VC with a well-known title, an escalation from the FTC, and the newest biotech megaround.

The necessity-to-know this morning

• Pfizer will shut its $43 billion acquisition of most cancers drug maker Seagen on Dec. 14, following the receipt of all required regulatory approvals. The most cancers business and R&D features of each corporations will probably be merged into a brand new Pfizer Oncology Division led by present Pfizer govt Chris Boshoff. Pfizer can be splitting its non-cancer business enterprise operations into two divisions. Present Pfizer Chief Industrial Officer Angela Hwang is leaving the corporate.
• Bicara Therapeutics, a privately held developer of most cancers medication, raised $165 million in a Collection C spherical financing.
• AstraZeneca stated it’s going to purchase vaccine maker Icosavax for $15 per share, or $800 million. Icosavax shareholders can even be eligible to obtain an extra fee of $5 per share, or $300 million, contingent on the achievement of sure milestones.

Reed Jobs, biotech VC

Reed Jobs spent about eight years on the trail to turning into a most cancers researcher, impressed by his father’s expertise with pancreatic most cancers to search out new therapies for incurable malignancies. However when his father, Apple co-founder and CEO Steve Jobs, died in 2011, what was as soon as tutorial turned far too actual, main him to pivot away from oncology.