BioCentury
ARTICLE | Finance

Quick turn

How Atlas repackaged Saniona assets and set up an exit path within a year

March 24, 2014 7:00 AM UTC

In less than a year, Atlas has set up a potential exit for Ataxion Inc. via a $17 million tranched series A round that will fund the company through completion of a Phase I study of an undisclosed program. At that point, new investor Biogen Idec Inc. (NASDAQ:BIIB) can exercise an option to acquire the ataxia company.

In addition to participating in last week's round, Biogen Idec will provide non-dilutive R&D and other funding to Ataxion...