Asabys Partners’ Post

Boston is considered by many to be the capital of the #biotech world. But who are the top rising biotechs right now? 🔥 Here are the top 6, ranked by amount raised in the last 2 years: 6. Cellarity: October 2022 - series C - $121 million 5. MOMA Therapeutics: May 2022 - series B - $150 million 4. Orna Therapeutics: August 2022 - series B - $221 million 3. Neumora Therapeutics: October 2022 - series B - $112 million + September 2023 - IPO $250 million 2. Tessera Therapeutics: April 2022 - series C - $300 million 1. ElevateBio: May 2023 - series D - $401 million Labiotech.eu has a list including 6 more companies to watch in the Boston area (link in comments). .................................. #boston #drugdevelopment

🔬 Reflecting on a tough 2023 & Eagerly Awaiting a Bright 2024 in Biotech! 💪🧬 2023 posed challenges for biotech with 27 closures— a stark rise from 7 in 2022. Flagship Pioneering's Rubius Therapeutics, Tessa Therapeutics Ltd, Cyteir Therapeutics, Antios Therapeutics, and Sorrento Therapeutics, Inc. faced unique hurdles, demonstrating the industry's demand for resilience. Despite closures, the biotech community showcased adaptability. Fundraising got tougher, but Pharma and biotech deals rose by 35% in 2023. 2024 brings hope with collaborations like RayzeBio-Bristol Myers Squibb and the $43B Seagen-Pfizer partnership still taking place towards the back end of the year. Will JPM Conference be the catalyst for VCs and big pharma in 2024? A lot of people seem to think so! 😁 #Biotech #Innovation #2023Reflections #2024Outlook #JPMConference #ResilienceInBiotech #JPM

Redx Pharma PLC (AIM:REDX) (AIM: REDX), a clinical-stage biotechnology company focusing on developing novel therapeutics for fibrotic disease and cancer, said it plans to de-list from AIM to re-register as a private limited company.  Chair, Dr Jane Griffiths, said the decision to exit the LSE's junior market had been a unanimous one as she voiced frustration over the company's current valuation - echoing sentiment across the sector. "Despite completing some of the largest AIM capital raises for biotech companies in recent years, Redx is still liquidity-constrained on AIM," Griffiths said. "As a result, we believe our current market valuation is not reflective of our track record or future potential and is not conducive to raising the level of capital required for our growing clinical portfolio. More at #Proactive #ProactiveInvestors #biotechnology #RedXpharma http://ow.ly/HHlP105oaGB

Who is Alumis? What they are doing: The Cal-based biotech is coming out with an IPO to fund/advance several autoimmune programs, including an oral, TYK2-inh P3 program in #Psoriasis. #CompetitiveAspect: If its ESK-001 is "more selective; more potent"...could it eek ahead of Bristol Myers Squibb's #Sotyktu?? #Biotech #IPO #Pharma #Healthcare #Alumis Takeda Ventyx Biosciences #Alumis

The Column Group (TCG) unveils its innovative strategy for funding single-asset biologic companies with the launch of TCG Labs and Soleil, a Bay Area R&D hub. With over $400 million raised for this initiative, TCG aims to streamline drug development and address challenges in the biotech industry, such as escalating research costs and talent retention. Led by CEO Jin-Long Chen, Soleil will focus on early-stage research and Phase I or II trials before offering single assets to larger biotech or pharmaceutical firms. This approach aims to maximize returns for founders and investors while maintaining a core team of researchers at Soleil. TCG's model diverges from traditional biotech startup strategies, emphasizing asset sales over company acquisitions. By concentrating solely on single assets, TCG Labs seeks to provide a more efficient and sustainable path to drug development. With experienced leadership, including Lucinda Quan and NGM veterans, TCG Labs sets ambitious goals in disease areas like oncology, autoimmune, and cardiovascular diseases. The firm's track record of successful exits through M&A underscores its commitment to generating value for investors and fostering long-term research initiatives. As TCG Labs-Soleil emerges as a pioneering force in biotech funding, its innovative approach promises to reshape the landscape of drug development and investment strategies in the biopharmaceutical industry. Source: https://lnkd.in/eC4m9eRN

In the news! Fierce Biotech covered Kairos' IPO. Read the article below. "Kairos goes public with $6M IPO to fund trials of lead #cancer drug. With a trio of #biotechs hitting the #Nasdaq on Friday, it was easy to miss a smaller-scale public debut from another clinical-stage drug developer on the other side of the European Society of Medical #Oncology annual meeting this weekend. Unlike last week’s nine-figure offerings, Kairos Pharma’s IPO brought in a more modest $6.2 million yesterday. The Los Angeles-based biotech—whose stock listed on the #NYSE under the ticker “KAPA” Sept. 16—sold 1.55 million shares at $4 apiece." Full article: https://loom.ly/nuhjFg0 NYSE: KAPA #BiotechNews #Biotech #Pharma #IPO #KAPA #PharmaStock #BiotechStock #Investing #Invest

#fundingalert 💼Company: Enlaza Therapeutics  💰Funding: $100Million ⚡Round: Series A  👥Investors: J.P. Morgan Asset Management, Frazier Life Sciences, Avalon Ventures, Lightspeed, Samsara BioCapital, Amgen Ventures, Regeneron Ventures, Bregua Corporation, Pappas Capital, Stephen Squinto Enlaza Therapeutics is pioneering the field of covalent biologics. These novel classes of protein therapeutics deliver more efficacious and safer treatments for patients. The financing will be used to further develop Enlaza’s proprietary covalent protein technologies and to support advancement of wholly owned pipeline programs to the clinic. Sergio Duron, Stephen Squinto, Analeah Heidt, Sateesh Natarajan Read more - https://lnkd.in/d2b2YpS3 To share your startup story write us on - contact@startuprise.io #EnlazaTherapeutics #biologics #proteintechnologies #funding #fundingnews #startupnews #news #startuprise

Congrats to Brise Pharma for completing nearly USD 20 million in Pre-A and Pre-A+ rounds of financing! We at Qiming, a consistent supporter of the company's Seed and Angel rounds, have continued to participate in this round. The raised funds will be used for the development of Brise's pipeline in preclinical and clinical stages, particularly to accelerate the clinical trials of BR005, China's first independently developed CGRP class small molecule drug. Brise Pharma is committed to developing innovative, high specificity pain treatments, especially for severe chronic pain conditions – focusing largely on addressing unmet clinical needs for facial pain, musculoskeletal pain and neuropathic pain. Their vision is to provide safe, effective, and convenient pain management solutions to patients worldwide suffering from chronic pain, already having two drugs in clinical stages. Stay tuned for more updates on their incredible journey! https://lnkd.in/e3AAQe4T #QMportfolio #QMhealthcare #financing ##BrisePharma #QimingVenturePartners #InvestInInnovation #ChronicPainManagement #ClinicalTrials

🌴💸 A tropical-themed Financial Friday update for you and I can only apologise for my terrible taste in clothing, luckily the positive investment rounds this week should distract you from that (alternatively just listen to the audio!) A comprehensive overview is in my video but a brief rundown of the funding this week is below: 💰 Zenas BioPharma - $200 million series C 💵 Bluejay Therapeutics - $182 million series C 🤑 Attovia Therapeutics - $105 million series B 💲 Aardvark Therapeutics - $85 million series C 💳 Latus Bio - $54 million launch #financialfriday #biotechinvestment #vcfunding