- cafead Nov 17, 2021 at 10:42: AM
via Swiss major Roche is cutting its losses and casting aside its COVID-19 drug collab with biotech Atea Pharmaceuticals.
After the recent successes seen with Pfizer and Merck, it’s easy to forget just how high the pile of failed COVID drugs is: Although its Big Pharma peers have hit key wins and are penning supply deals like there’s no tomorrow, Roche and Atea are playing out a very different story.
The pair signed a $350 million deal just over a year ago for Atea’s antiviral, AT-527, coming after the biotech put its COVID program on the map a few months prior by raising a massive $215 million funding round.
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After the recent successes seen with Pfizer and Merck, it’s easy to forget just how high the pile of failed COVID drugs is: Although its Big Pharma peers have hit key wins and are penning supply deals like there’s no tomorrow, Roche and Atea are playing out a very different story.
The pair signed a $350 million deal just over a year ago for Atea’s antiviral, AT-527, coming after the biotech put its COVID program on the map a few months prior by raising a massive $215 million funding round.
article source