Xconomy: Innovimmune Pursues Pharma Partners, Shuns VCs
Summary
In March 2011, Plymouth, MI-based Lycera signed a $300-million-plus deal with Merck (NASDAQ: MRK) to develop ROR-based compounds for autoimmune diseases.And last December, Pfizer (NYSE: PFE) entered into a $217 million research pact with Swedish biotech Karo Bio that was centered around ROR-gamma.Gaweco justifies that approach by pointing to the fact that once patents are issued on a novel drug, a company generally has no more than 20 years to capitalize on it before it becomes vulnerable to generic competition.“Don’t waste the opportunity to get the most bang for your buck.” Gaweco’s approach to entrepreneurship and drug development was shaped by more than a decade of working in Big Pharma.Gaweco knows his startup is at the stage when most would seek VC funding, but he’s sticking to what he refers to as his “very cowboy” strategy of looking for pharma partners instead.
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