Beating the bushes no more

Roche's acquisition of antibody company Glycart Biotechnology AG provides yet another example of the current exit strategy of choice for biotech companies and their investors. Glycart says it found private capital getting harder to come by, while interest from pharma was strong.

Roche (SWX:ROCZ, Basel, Switzerland) paid CHF235 million ($181.5 million) in cash last week for four year old Glycart, whose GlycoMAb technology is designed to identify and manufacture antibodies with glycosylation patterns that improve their efficacy (see BioCentury, Sept. 27, 2004). ...