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Abivax $920 million cash haul lets it prepare for solo U.S. launch instead of relying on a buyer, CEO tells CNBC

Best defense is the offense, says Abivax CEO after takeover speculation

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Abivax's latest funding round allows the biotech to move toward a U.S. launch of its bowel disease drug without backing from Big Pharma, CEO Marc de Garidel told CNBC after months of intense takeover speculation.

"Thanks to the cash we raised… We are in a position to have cash until the end of 2029, and … build up the right infrastructure to launch in the U.S.," de Garidel told CNBC's "Squawk Box Europe" on Friday.

Northern Lights Alert: Aurora Possible In 20 States This Weekend

Space weather forecast are for up to a G1-class geomagnetic storm Friday, July 10, through Saturday, July 11, for northern states, with the following night up to G2. (Photo by Alex Kormann/Star Tribune via Getty Images). Image shows Northern Lights over Minnesota skies.

Space weather forecast are for up to a G1-class geomagnetic storm Friday, July 10, through Saturday, July 11, for northern states, with the following night up to G2. (Photo by Alex Kormann/Star Tribune via Getty Images)