PanGenetics prediction pans out

It is rare when an early stage biotech company not only delivers on the promises it made to its investors, but actually exceeds them. By selling its Phase I clinical asset targeting nerve growth factor to Abbott Laboratories for $170 million up front and the potential of another $20 million in milestones, PanGenetics B.V. has ensured its investors an early return.

The deal for PG110 also provides proof of principle for the "asset-centric" model of cornerstone investor Index Ventures, which holds a 40% stake in the business...