Boston Pharmaceuticals debuts with $600M

Gurnet Point Capital formed Boston Pharmaceuticals (Cambridge, Mass.) and committed $600 million with which the newco intends to build a portfolio of 20-25 assets. Boston Pharmaceuticals plans to in-license products that are in preclinical or early clinical testing, then develop them through Phase II proof-of-concept. The company then intends to sell each asset back to its originator or out-license it to a third party.

Boston Pharmaceuticals' chairman is Christopher Viehbacher and its CEO is Robert Armstrong. Viehbacher is the managing partner of Gurnet and was CEO of Sanofi (Euronext:SAN; NYSE:SNY). Armstrong is the former head of external R&D at Eli Lilly and Co. (NYSE:LLY). ...