Bayhill keeping options open in bid for survival

EP Vantage’s interview with Bayhill’s CEO Mark Schwartz underscores the importance of striking strategic partnerships, and the role of partnering events like BIO-Europe Spring®, in helping promising biotechs make it through our tough economic climate:

It was supposed to have been one of the premier IPOs of 2008, forecast to raise around USD 86 million and transform Bayhill Therapeutics from a fledgling biotech into a fully integrated pharmaceutical company. Then the IPO window slammed shut.

Speaking to EP Vantage at the BIO Europe Spring conference, Mark Schwartz, CEO of Bayhill, admitted that such aspirations have been put on hold following the aborted IPO: “Otherwise we would be having a very different discussion to the one we are having today”, he says. With a cash runway only extending to the end of 2009, the pressure is on to secure a strategic partner, either for the company’s lead Phase II product, BHT-3009 for MS, or for the company as a whole. “The ground rules have changed, so we remain open and flexible to all forms of partnership, including a trade sale,” says Mr Schwartz.

Read the full article here

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