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STAT+: A biotech VC on what Eli Lilly saw in a struggling cancer startup for $3.2B
Kelonia Therapeutics became the newest biotech takeout target this week. The privately held company, which is developing cell therapies for cancer and autoimmune diseases, will be acquired by Eli Lilly.
The acquisition is a boon for the small startup, which has subsisted on $60 million over the last five years and previously struggled to stay afloat. (Check out an earlier slide deck and memo on the company here.) Kelonia came within a week of running out of cash three times. Now it’s being bought for $3.2 billion with potential milestone payments that could double that payout.
On this week’s edition of its biotech podcast, “The Readout Loud,” STAT spoke with Bryan Roberts, a partner at VC firm Venrock, which incubated the biotech, to discuss how this small company managed to land a big deal.
Kelonia Therapeutics became the newest biotech takeout target this week. The privately held company, which is developing cell therapies for cancer and autoimmune diseases, will be acquired by Eli Lilly.
The acquisition is a boon for the small startup, which has subsisted on $60 million over the last five years and previously struggled to stay afloat. (Check out an earlier slide deck and memo on the company here.) Kelonia came within a week of running out of cash three times. Now it’s being bought for $3.2 billion with potential milestone payments that could double that payout.
On this week’s edition of its biotech podcast, “The Readout Loud,” STAT spoke with Bryan Roberts, a partner at VC firm Venrock, which incubated the biotech, to discuss how this small company managed to land a big deal.
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Opinion: Dr. Glaucomflecken wants the corporatization of medicine to be national news
Below is a lightly edited, AI-generated transcript of the “First Opinion Podcast” interview with Will Flanary, aka Dr. Glaucomflecken. Be sure to sign up for the weekly “First Opinion Podcast” on Apple Podcasts, Spotify, or wherever you get your podcasts. Get alerts about each new episode by signing up for the “First Opinion Podcast” newsletter. And don’t forget to sign up for the First Opinion newsletter, delivered every Sunday.
Torie Bosch: Will Flanary is better known as Dr. Glaucomflecken. He is social media’s most famous comedian slash doctor, and he’s not afraid of punching up.
Below is a lightly edited, AI-generated transcript of the “First Opinion Podcast” interview with Will Flanary, aka Dr. Glaucomflecken. Be sure to sign up for the weekly “First Opinion Podcast” on Apple Podcasts, Spotify, or wherever you get your podcasts. Get alerts about each new episode by signing up for the “First Opinion Podcast” newsletter. And don’t forget to sign up for the First Opinion newsletter, delivered every Sunday.
Torie Bosch: Will Flanary is better known as Dr. Glaucomflecken. He is social media’s most famous comedian slash doctor, and he’s not afraid of punching up.
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Biotech’s new company model; The super poop behind a startup launch; and more
Biotech’s new company model; The super poop behind a startup launch; and more
Welcome back to another edition of Endpoints Weekly! Earnings season is in full swing, but we had plenty of original reporting and exclusives you won’t find anywhere else this week. Chief among them: Andrew Dunn’s … Read More
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New Hepta blood test could predict GLP-1 response
While GLP-1s like Ozempic and Wegovy are being widely prescribed for weight loss, doctors currently do not have a way to predict if a patient will successfully respond to the drugs.Read More
While GLP-1s like Ozempic and Wegovy are being widely prescribed for weight loss, doctors currently do not have a way to predict if a patient will successfully respond to the drugs.Read More
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Opinion: Dr. Glaucomflecken wants the corporatization of medicine to be national news
Biotech’s new company model; The super poop behind a startup launch; and more
New Hepta blood test could predict GLP-1 response
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Illinois’ financial crisis could bring the state to a halt
The final 6 ‘Game of Thrones’ episodes might feel like a full season
New Season 8 Walking Dead trailer flashes forward in time
Mod turns ‘Counter-Strike’ into a ‘Tekken’ clone with fighting chickens
Meet Superman’s grandfather in new trailer for Krypton
Disney’s live-action Aladdin finally finds its stars
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