Reata Pharmaceuticals’ $7.3 billion sale to Biogen is only the latest in a series of recent successes across Dallas-Fort Worth’s life sciences landscape.
Exonics Therapeutics, a biotech founded on the research of noted UT Southwestern Medical Center Dr. Eric Olson, got snapped up by Boston-based Vertex Pharmaceuticals to expedite its gene editing therapies for neuromuscular diseases, including Duchenne muscular dystrophy.
The deal paid Exonics shareholders $245 million upfront, with future payments of more than $700 million based on company milestones.The Irving-based precision medicine pioneer scored an eye-popping $830 million equity round from some of the biggest names in investment circles, including Sixth Street and funds associated with T. Rowe Price, Fidelity, Silver Lake and Coatue. The capital raise boosted its valuation to nearly $8 billion.
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