EQRx launched with a lofty mission to develop drugs at “radically lower prices,” assembling a group of potential buyers and hitting Wall Street via a massive SPAC deal. But in 2022, the FDA threw cold water on the idea of using interim data developed in China to secure approval for lead drug sugemalimab.
In November, EQRx publicly gave up on the final pieces of its low-cost medicines approach. But in a recent financial filing, the company revealed that was the moment when it also started down the path of selling itself, a decision that would ultimately lead to it getting acquired for its cash months later.
Part of EQRx’s implosion earlier this year included cutting ties with China-based Lynk Pharmaceuticals. However, Lynk seems to have safely removed itself from EQRx’s wreckage, as its eczema asset improved area and severity in a phase 2 clinical trial.
Revolution Medicines Expects to Conduct Late-Stage Development of RAS(ON) Inhibitor Drug Candidate Pipeline Supported by Fortified Balance Sheet Agreement is the Result of a Rigorous Process...
EQRx will be acquired by Revolution Medicines in an all-stock transaction, the companies announced Tuesday morning in a press release. As part of the merger, all of EQRx’s ongoing R&D portfolio programs will be wound down and the intellectual property returned to its partners.
EQRx's mission to revolutionize drug pricing has come to an end with another type of revolution: an acquisition, to be exact. The Alexis Borisy biotech will be acquired by another of the serial biotech founder's startups, Revolution Medicines.
EQRx is abandoning its plan to provide drugs that are typically expensive at lower prices. The biotech is also cutting ties with two of its partners, letting go of 170 staff members and slashing all assets from its pipeline except one.
Three months after putting on hold its ambitious plan to bring low-cost, innovative drugs to the US market, EQRx is shedding jobs.
Migraine therapy maker Impel Pharmaceuticals, psychedelics-focused Cybin and cancer and immuno-inflammatory-orientated EQRx are the latest biotechs handing out pink slips to employees as the flood of layoffs continues in the industry.
About 11 months after his investment firm’s blank check company helped boost EQRx’s cash coffers by about $1.3 billion, Eli Casdin is out from the biotech’s board.