Biotechnology companies disestablished in 2018
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| Biotechnology companies disestablished in 2018 | |
|---|---|
| Name | Biotechnology companies disestablished in 2018 |
| Fate | Dissolution, bankruptcy, merger, acquisition, liquidation |
| Founded | Various |
| Defunct | 2018 |
| Industry | Biotechnology |
Biotechnology companies disestablished in 2018 Biotechnology companies disestablished in 2018 encompasses a cohort of firms across the United States, Europe, and Asia that ceased independent operations in 2018 through bankruptcy, liquidation, mergers, or acquisitions. The group includes biotechnology startups, clinical-stage developers, and established firms that intersected with pharmaceutical enterprises, academic spin-offs, and venture capital portfolios tied to institutions such as Harvard University, Stanford University, and Massachusetts Institute of Technology. Their disestablishments affected stakeholders ranging from investors like Sequoia Capital and Orbimed Advisors to regulators including the Food and Drug Administration and the European Medicines Agency.
Overview
In 2018, the biotechnology sector saw notable company terminations influenced by capital markets tied to entities such as the New York Stock Exchange, NASDAQ, and London Stock Exchange, as well as merger activity involving corporations like Pfizer, Roche, Novartis, Sanofi, and Johnson & Johnson. High-profile clinical trial results and regulatory decisions by bodies including the National Institutes of Health and the Medicines and Healthcare products Regulatory Agency contributed to corporate outcomes. Venture capital ecosystems including Andreessen Horowitz, Kleiner Perkins, and Index Ventures were heavily represented among backers of disestablished firms, while academic collaborations with institutions such as University of Cambridge, University of Oxford, and ETH Zurich shaped many scientific programs that ended or were absorbed in 2018.
List of Companies
Notable entries from 2018 include firms across gene therapy, immuno-oncology, rare disease, and platform technology fields. Examples encompass companies tied to legacy assets or high-profile leaders from organizations such as Genentech, Amgen, Gilead Sciences, Biogen, and AbbVie.
- A multinational clinical-stage company with programs in oncology and immunotherapy that ceased independent operations amid acquisition talks involving Bristol-Myers Squibb and Eli Lilly. - A gene-editing startup founded by alumni of Broad Institute and Cold Spring Harbor Laboratory that closed after litigation affecting CRISPR Therapeutics and Editas Medicine precedents. - A rare-disease developer spun out of Children's Hospital of Philadelphia and funded by Third Rock Ventures that entered liquidation following trial setbacks reminiscent of disputes involving Alexion Pharmaceuticals and Shire. - A synthetic biology platform company with partnerships at Imperial College London and Max Planck Society absorbed into a strategic alliance with BASF and DowDuPont. - A monoclonal antibody developer originating from The Scripps Research Institute acquired by a private equity consortium including KKR and Blackstone Group and then delisted.
(Linked company names above reference affiliations with Genentech, Amgen, Gilead Sciences, Biogen, AbbVie, Bristol-Myers Squibb, Eli Lilly, Broad Institute, Cold Spring Harbor Laboratory, CRISPR Therapeutics, Editas Medicine, Children's Hospital of Philadelphia, Third Rock Ventures, Alexion Pharmaceuticals, Shire, Imperial College London, Max Planck Society, BASF, DowDuPont, The Scripps Research Institute, KKR, Blackstone Group). Additional examples included small cap entities with ties to University College London, Karolinska Institutet, Weizmann Institute of Science, Roche Diagnostics, Takeda Pharmaceutical Company, Bayer, GlaxoSmithKline, AstraZeneca, Merck & Co., and Celgene.
Notable Cases and Impact
Several disestablishments in 2018 had outsized visibility because they involved high-value pipelines, litigation, or strategic consolidations involving corporations like AbbVie and Celgene or activist investors linked to Elliott Management and Pershing Square Capital Management. The termination of clinical programs impacted collaborations with academic centers such as Johns Hopkins University, University of California, San Francisco, and Yale University, while patent portfolios intersected with disputes referencing European Patent Office decisions and cases before the United States Court of Appeals for the Federal Circuit. Workforce movements saw scientists migrate to organizations including Illumina, Regeneron Pharmaceuticals, Vertex Pharmaceuticals, Moderna, BioNTech, and Bluebird Bio, reshaping talent flows across innovation hubs like Boston, San Francisco, Cambridge (UK), and Basel.
Causes of Disestablishment
Primary drivers included negative phase II/III trial outcomes evaluated by boards with members from firms like Novo Nordisk and Takeda, financing dry-ups within markets influenced by indices such as the NASDAQ Biotechnology Index, hostile or friendly acquisitions by conglomerates such as Johnson & Johnson and Sanofi, and patent or licensing disputes adjudicated in venues including the United States District Court for the District of Delaware and the European Court of Justice. Macroeconomic and policy factors involving trade relationships with China and investment shifts by sovereign funds like Temasek Holdings and China Investment Corporation also played roles, alongside technological pivots exemplified by reallocation to platforms at CRISPR Therapeutics, Intellia Therapeutics, and Sangamo Therapeutics.
Aftermath and Successor Entities
Following 2018 disestablishments, assets and programs were frequently transferred to acquirers such as Gilead Sciences, Roche, Novartis, Sanofi, or spun into new ventures backed by Flagship Pioneering, Atlas Venture, and Venrock. Intellectual property often migrated to universities like Columbia University or to corporate research units within Bayer and Takeda. Surviving teams formed startups that later raised capital from investors including Founders Fund and Perceptive Advisors, while patient advocacy groups such as Rare Disease UK and National Organization for Rare Disorders engaged with successor companies to preserve clinical continuity. Regulatory filings with Food and Drug Administration and European Medicines Agency recorded transfers of investigational new drug programs to entities including Vertex Pharmaceuticals and AstraZeneca.