Biovitrum's new sweet spot

Biovitrum AB has been viewed as one of the most promising European IPO candidates, based on both its relatively mature birth as a spinout from Pharmacia Corp. in 2001, and the signing of key deals with Amgen Inc. and GlaxoSmithKline plc. But having been left with just one clinical stage product after development of the two partnered products was terminated, the company has decided to put even more emphasis on clinical development through in-licensing.

The company has restructured to create a separate development unit, which will be headed by Anders Ullman, formerly head of product development with Bayer Pharmaceuticals (West Haven, N.J.).

"The goal is still clear," CEO Mats Pettersson

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