Two Cambridge scientists will make millions of pounds after the cancer specialist they founded was sold to French drugs giant Sanofi for £815m.
Kymab, set up by Professor Allan Bradley and Dr Glenn Friedrich in 2010, is a spin-out from the Wellcome Trust s Sanger Institute.
The company has agreed to be taken over by Sanofi. Shareholders will receive an upfront payment of £815m and potential further instalments worth £260m depending on whether targets are hit.
Windfall: Sanofi will gain the rights to Kymab s KY1005 drug, an antibody therapy viewed as having the potential to treat a wide range of disorders and immune-related diseases
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Neil Woodford stock slashed 70% hitting fund and trust investors
Schroder UK Public Private Trust reckons the cash exit of unnamed investors means fundamentals not reflected in valuation
The valuation of a Neil Woodford stock has been slashed 70% in a venture capital deal hitting investors in the fallen star fund manager’s former flagship fund and investment trust.
A regulatory filing from the Schroder UK Public Private trust, previously the Woodford Patient Capital Trust, revealed its next valuation for net asset value at the year’s end will see the value of Ombu downgraded 71%, from £14m at the start of the quarter to £4m.