Have a read of the following article. It might explain where CXS sits in relation to Cephalon. I've only posted the first 3 paras. There's more at the link below.
Cephalon Joins The Corporate Venture Party For the start-up community --and increasingly certain distressed VCs -- the birth of a new fund devoted to early stage biopharma investing is an event to be celebrated. And, as we've noted before, pharma, through so-called corporate venture divisions, is increasingly the cause for the celebration.
With deep-pocketed parents to ensure available follow-on funding, these groups can invest where traditional VCs have curtailed their efforts, while simultaneously giving pharmas an inside track on pipeline programs of interest as the competition for outside innovation increases. It's the perfect alignment of strategic intent and financial return, and the impetus for a wave of new CVC starts from the likes of Shire to Merck Serono to Abbott (though that's mostly device-oriented.)
The latest pharma to join the corporate venture party appears to be Cephalon, a one-time specialist in neurodegenerative diseases that?s diversified considerably over the years. In a regulatory document filed last month, Cephalon announced the retirement of executive vice president of technical operations Peter Grebow, but indicated he would continue to work for the specialty pharma as a consultant, during which time he would ?assist with the establishment of Cephalon Ventures.? (Bolding courtesy of IN VIVO Blog.)
CXS Price at posting:
45.5¢ Sentiment: None Disclosure: Held
