Built to purpose

With almost 40 start-ups engaging in build-to-buy deals since 2013 and an average 2-4 years for up or down decisions, the next year could see a spate of acquisitions -- or options declined -- that will show how often and how well the gamble of surrendering upside in favor of reduced risk pays off.

At least seven companies are expecting decisions by the end of 2018, according to disclosed deal terms and interviews with BioCentury. Another 12 have disclosed milestone-driven decision structures that conceivably could come to fruition in the same time frame, although the timing hasn’t been revealed. ...