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Intarcia rejects pharma term sheets; raises $210M to run diabetes Phase III
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Calling pharma's bluff
Monday, November 19, 2012
Not satisfied with partnership offers for ITCA 650, Intarcia
Therapeutics Inc. raised $210 million last week from investors who
bought into the potential of the company's once-yearly GLP-1 product. The money
will pay for a Phase III program in Type II diabetes and leave Intarcia better
positioned to revisit negotiations with prospective commercial partners in
In December, Intarcia took an important step toward moving
ITCA 650 into Phase III testing by finalizing a deal with Quintiles
Transnational Corp. in which the CRO became both a financial and a
development partner on the program (see BioCentury, Jan. 9).
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