Dec. 20 at 5:02 PM
$DAWN To gain access to clinical stage ADC - a much-hyped approach to treating cancer that is essentially a more targeted form of chemotherapy - feels like good business from a mgmt team led by Jeremy Bender, Ph.D., MBA who formerly worked at Gilead and has also been COO at Tizona, and CBO at Sutro (STRO). Furthermore, DAWN has a partnership in place with Ipsen, granting rights to market and sell Ojemda ex-US in exchange for a ~
$71M-FRONT investment,
$40M equity investment, up to ~
$380M in commercial launch and sales-based milestone pymts, and mid-teens % royalties on net sales.
Overall, what I find most impressive about DAWN is its execution - first securing accelerated approval for Ojemda, and priority review voucher, sold for
$108M last quarter, and also with its slick deal-making and partnering.
Besides CEO , CMO Elly Barry M.D. was formerly Global Clinical Lead for Pediatric Oncology at PFE, while CSO & Head of R&D were both formerly at Immunogen acquired by ABBV for @
$10BN in '24
