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Versant created asset-centric Inception based on lessons learned from Amira
Building bite-sized exits
By Aaron Bouchie
Senior Writer
Published on
Monday, February 13, 2012
Versant Ventures and former employees of Amira Pharmaceuticals
Inc. applied lessons learned from Amira when creating Inception
Sciences Inc., a drug discovery company that spins off assets into
separate entities to make for cleaner acquisitions.
When Amira's board started
gearing the company for an exit in 2010, it had four programs in clinical
trials. "It became pretty clear that each pharma company they talked with
had their favorite program within the portfolio, but no company wanted the
whole portfolio," Inception CBO Clare Ozawa told BioCentury. "So they
decided to segregate the programs, which led to a very difficult exercise to
turn Amira into multiple companies to exit."
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