Biotech rainmaker David Hung is back
Last we heard from serial entrepreneur David Hung, he was explaining why he’d removed his previous employer from his LinkedIn profile. This week the storied biotech executive, who most famously sold Medivation for about $14 billion, has returned with a big idea, a lot of dollars, and little in the way of disclosed details.
Hung’s new company is called Nuvation Bio, and it has raised $275 million to fund its work. However, as STAT’s Kate Sheridan reports, that work is almost entirely a mystery. The company has “seven mechanistically distinct” ideas, as one investor put it, and each of them is expected to produce multiple potential drugs.
As for what those drugs might treat, we’ll just have to wait and see.
Read more.
Hung’s new company is called Nuvation Bio, and it has raised $275 million to fund its work. However, as STAT’s Kate Sheridan reports, that work is almost entirely a mystery. The company has “seven mechanistically distinct” ideas, as one investor put it, and each of them is expected to produce multiple potential drugs.
As for what those drugs might treat, we’ll just have to wait and see.
Read more.
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