BioCentury
ARTICLE | Finance

When to fold 'em

VC Alta says sale of Orphan drug play FoldRx to Pfizer better than partnering

September 6, 2010 7:00 AM UTC

When to fold 'em

The bid by sanofi-aventis Group (Euronext:SAN; NYSE:SNY) for Genzyme Corp. (NASDAQ:GENZ) wasn't the only deal news in the Orphan disease space last week. A little more than two months after the venture syndicate for FoldRx Pharmaceuticals Inc. gave the biotech a $29 million round intended to carry its sole clinical candidate through commercialization, they instead opted for an acquisition by Pfizer Inc. (NYSE:PFE)...