ARTICLE | Strategy

PanGenetics prediction pans out

November 16, 2009 8:00 AM UTC

It is rare when an early stage biotech company not only delivers on the promises it made to its investors, but actually exceeds them. By selling its Phase I clinical asset targeting nerve growth factor to Abbott Laboratories for $170 million up front and the potential of another $20 million in milestones, PanGenetics B.V. has ensured its investors an early return.

The deal for PG110 also provides proof of principle for the "asset-centric" model of cornerstone investor Index Ventures, which holds a 40% stake in the business...