Fierce Biotech published its 3rd annual recount of the Biotech Graveyard. In 2011, we lost another 8 companies to the vaguaries of drug discovery and financing in the biotech world. The companies who met their demise are as follows:
- Advanced Life Sciences
- Altair Therapeutics
- Ambrilla Biopharma
- ARYx Therapeutics
- Peptimmune
- Phoenomix Corporation
- Tolerx
- Transdel
Many of these were effectively one-trick ponies whose drugs failed to show efficacy in the clinic. In many cases, the companies also lost the backing of a big pharma partner to continue paying the bills required to bring a therapy fully to market. Of course, the capital markets don't offer an alternative source of funding to companies of this ilk at this juncture. Result? Liquidation of assets if any.
Posted by Bruce Lehr Oct 31st 2011.
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