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Biopharma Funding Activity May 20th-24th ‘24 2 newly launched companies and more funding events… Get these weekly → https://lnkd.in/gDdkUYb3 – 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 – AltruBio Inc. 💸  Received an oversubscribed Series B financing of up to $225M led by BVF Partners LP, and other investors to support ongoing and planned Phase 2a and 2b clinical trials of immune checkpoint enhancer, ALTB-268, in ulcerative colitis. Pheon Therapeutics 💸  Completed a $120m Series B financing led by TCGX, with participation from BVF Partners and other investors. The funding will be used to further advance Pheon's differentiated ADC pipeline through clinical proof of concept for its first three assets in a wide range of solid tumors. SixPeaks Bio 💸  Launched with $110M funding: $30M in Series A led by Versant Ventures and $80M  non-dilutive financing from AstraZeneca. 𝐏𝐫𝐨𝐠𝐞𝐧𝐭𝐨𝐬 𝐓𝐡𝐞𝐫𝐚𝐩𝐞𝐮𝐭𝐢𝐜𝐬 💸  Launched with $65M Series A financing led by Forbion to advance its multiple sclerosis program. Aktis Oncology 💸  Received $60M upfront cash payment for the collaboration in addition to an equity investment in Aktis by Lilly to generate novel tumor-targeting radiopharmaceuticals. – 𝐏𝐨𝐬𝐭-𝐈𝐏𝐎/𝐏𝐮𝐛𝐥𝐢𝐜 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 – Bicycle Therapeutics 🏦  Announced $555M private investment in public equity. Cytokinetics 🏦  Announced pricing of $500M stock offering. Dyne Therapeutics 🏦  Announced pricing of $325.5M public offering. Erasca, Inc.  🏦  Announced closing of $184M offering. Foghorn Therapeutics Inc. 🏦  Announced pricing of $110M direct offering and pre-funded warrants. --- 👋 I'm Dominic Vacchiano, Co-founder of BiopharmIQ by Amp. We provide biopharma data to help with your sales/BD activities. 📰 Each week we share clinical/regulatory/funding news in an easy-to-digest format. #biotech #biopharma

UNP Scores $32M for AI-Powered Macrocycle Therapeutics - HIT Consultant #UNP Scores $32M for AI-Powered Macrocycle Therapeutics #Summary: UNP, a healthcare technology company, has raised $32 million in funding for its AI-powered macrocycle therapeutics. The company aims to develop novel treatments for diseases that are currently difficult to treat. The funding will be used to advance the company's drug discovery platform and accelerate the development of its pipeline. UNP's technology combines artificial intelligence and machine learning to design and optimize macrocycles, which are large, complex molecules that can interact with disease targets. The company's approach has the potential to revolutionize drug discovery and lead to the development of more effective therapies. #Introduction: UNP, a healthcare technology company, has secured $32 million in funding ai.mediformatica.com #platform #funding #oncology #biotech #design #globalhealth #health #healthinnovation #innovation #medical #merckglobalhealthinnovationfund #seriesa #digitalhealth #healthit #healthtech #healthcaretechnology @MediFormatica (https://buff.ly/3tp5PyH)

💲 Ratio Therapeutics On BMS Investment, Radiopharma R&D Trends, AI Use ⭐ Who should hear this? BD and competitive intelligence execs at pharma and biotech companies with oncology portfolios/pipelines. VC investors. ⭐What is it? A podcast interview with the CEO and CSO of a Boston-based company with two radiopharmaceutical R&D platforms, and BMS as an investor. This interview digs into the company’s science, the use of AI, trends in research including combining radiopharmaceuticals with other anticancer modalities and partnering. ⭐Why is it important? Radiopharmaceuticals is a hot area in pharma, and significant deals are being done in the space (including AstraZeneca’s $2bn purchase of Fusion Pharmaceuticals [free to read, with a chart of recent big deals]). These valuable insights will be of interest to big pharma and investors looking to expand in the space, and rival companies wanting competitive intelligence. Citeline Citeline Commercial

Biotech/Pharma Industry Update Time 👨🔬 🚨 👩🔬 Below are some exciting updates which have taken place within the Biotech/Pharma industry over the last week 💥💥💥 🍾 - Totus Medicines have successfully closed a $66 Million Series B funding & also have named Nassim Usman as their new CEO. ✅ 🍾 - Rain Oncology have announced it has entered into a definitive merger agreement whereby Pathos will acquire them for $1.16 in cash per share plus a non-tradeable contingent value. ✅ 🍾 - Spyre Therapeutics, a biotechnology spinout working on antibody drugs for diseases of the gut, announced Friday a $180 Million fundraising from a group of blue-chip investors.✅ 🍾 - Moderna & Merck Group reported last week that their personalized melanoma cancer vaccine plus Keytruda approach delivered “continued improvement” in reducing risk of disease recurrence or death, based on three-year data from a mid-stage trial.✅ 🍾 - Electra Therapeutics have appointed Kathy Dong as their new CEO, she will replacing current CEO Adam Rosenthal who will still remain the CEO of Star Therapeutics, the company that spun out Electra.✅ 🍾 - Encellin a San Francisco based biotechnology company developing a cell encapsulation platform with an initial focus on Type 1 Diabetes (T1D), have successfully closed a $9.9 Million financing round - CEO (Crystal Nyitray).✅ 🍾 - Novo Holdings founded biotech Hoba Therapeutics have raised $25 Million in Series A financing to bankroll its investigational medicines for pain and hearing loss.✅ 🍾 - Vertex Pharmaceuticals have entered a license agreement with Editas Medicine to use the latter company’s Cas9 gene editing technology. Vertex will pay $50 Million upfront, with an additional contingent $50m payment, according to documents filed with the U.S. Securities and Exchange Commission.✅ 🍾 - Immunotherapy biotech EvolveImmune Therapeutics have raised $37 Million in a financing round, backed by big names like Pfizer & its newest investor, Bristol Myers Squibb.✅ #Elixir #IndustryUpdates #Biotechnology #Pharma #News #FDA #Mergers #ClinicalTrials #Approvals #Announcements

Stories making headlines today in the biopharma industry: Gilead is making a strategic move with a $43.5 million investment in Xilio Therapeutics' IL-12 program dedicated to cancer treatment, a deal comprising $30 million in operational cash and $13.5 million stock investment. This venture opens the possibility for Xilio to get up to $604 million from licensing. Meanwhile, Metagenomi remains secretive about its Investigational New Drug (IND) plans. Expected to launch a duo of INDs by 2027, the preclinical IPO sector firm is driven to develop novel enzymes and gene-editing tools that could revolutionize the biotech industry. Aldeyra is also advancing its clinical programs, prepping for another trial for its dry eye disease drug, reproxalap. This comes as part of the firm's NDA resubmission strategy for the year, spurred by the encouraging data from a recent clinical trial. Bayer, the pharmaceutical heavyweight, is trimming its operations, planning for 90 job cuts. Concurrently, Avalo Therapeutics is seeking to boost its financial muscle in a private placement valuing up to $185 million. Changes are not only experienced at the macro level; ADC startup Mythic is experiencing a shift in leadership, set to induct Jazz executive George Eliades as its new leader starting April 1. In the regulatory space, the FDA has endorsed Akebia's anemia drug, vadadustat, a significant bounce-back following a rejection two years prior due to safety qualms. Boundless enters the IPO scene with a bang, generating a $100 million listing for its cancer small molecules. Moderna is also recalibrating its future vaccine strategies in an attempt to amplify the effectiveness. In the funding realm, Intellihealth, a weight loss care provider based in Connecticut, successfully raised $24 million, while Moderna partnered with Blackstone on flu shots securing a robust $750 million in R&D financing. This proves that despite significant challenges, the pharmaceutical and biotechnology sectors continue to adapt, innovate, and expand. #pharma #biotech #topstories #biodatastudio

Stories making headlines today in the biopharma industry: Acorda Therapeutics, a renowned biotech company, has declared bankruptcy amidst legal and financial difficulties since 2017. The company has decided to sell off its assets, including a proprietary Multiple Sclerosis drug, to Merz Therapeutics for a sum of $185 million. In other sector news, Roivant has shared uplifting results from their Phase 2 eye disease drug trial, conducted in partnership with pharmaceutical giant Pfizer. Capitalizing on this success, Roivant is launching an unprecedented $1.5 billion share buyback program. However, contrasting fortunes struck Gritstone as its Phase 2 study for a novel cancer vaccine delivered mixed results, leading to a significant drop in its stock value. Despite the recent upset, Gritstone remains optimistic and is committed to moving forward with public stock offerings and advanced Phase 3 trials. Meanwhile, Praia Health, a healthcare startup pioneering in improving patient engagement with healthcare systems, managed to secure $20 million in a recent Series A funding round. The promising venture seeks to leverage this substantial capital influx to develop groundbreaking products that seamlessly connect consumers with vital healthcare services. In the corporate world, Zymeworks revealed the removal of CFO Christopher Astle, with CEO Kenneth Galbraith set to fill the position on a temporary basis. Concurrently, Gilead confirmed the expansion of its existing deal with Nurix. Lastly, Verve Therapeutics has decided to hit pause on its leading gene editing program following an adverse safety event. In its pursuit of safety and proficiency, the firm plans to shift gears towards a similar program that employs a different type of lipid delivery mechanism. #pharma #biotech #topstories #biodatastudio

We are pleased to announce that Keen Vision Acquisition Corporation (KVAC), co-founded and sponsored by our Founder and Chairman, Jason Wong Kon Man, has successfully entered into a definitive business combination agreement with Medera Inc. (Medera), a clinical-stage biotechnology company. As the largest Asian-backed SPAC on Nasdaq in 2023, KVAC identified Medera as a standout target due to its pioneering and potentially life-saving work in gene- and cell-based therapies for some of the most challenging cardiovascular diseases. Medera operates through two core business units: Sardocor, advancing next-generation gene therapies currently in FDA-cleared clinical trials, and Novoheart, which employs proprietary bioengineered human mini-heart technology for drug discovery and screening. These groundbreaking innovations place Medera at the forefront of the biotech industry, offering hope to millions of patients worldwide. This business combination values Medera at a pre-money valuation of $622.6 million, and the proceeds will be instrumental in accelerating its three advanced clinical programs. The transaction is expected to close in the fourth quarter of 2024, positioning Medera for its NASDAQ debut and allowing it to pursue even greater advancements in cardiovascular treatment. Norwich Capital is proud to continue its leadership in driving transformational growth through strategic SPAC transactions, empowering companies like Medera to make a lasting impact on the future of healthcare and beyond. #NorwichCapital #Norwich #NorwichHK #SPAC #Medera #Novoheart #Sardocor #Biotech #GeneTherapy #BusinessCombination #NASDAQ #Innovation #CapitalMarkets #IPO https://lnkd.in/gn9zT6mp

Denali Therapeutics fresh off study setback, gets $500M lift The equity infusion from unnamed private investors will extend the company’s cash runway into 2028. Neurodegenerative disease drugmaker Denali Therapeutics announced Tuesday it is raising an expected $500 million through a private financing deal with existing investors. Through the deal, the company will sell over 3 million shares of its common stock at $17.07 apiece and issue warrants for more than 26 million additional shares at $17.06 each. The deal is expected to close Feb. 29, with the proceeds to be used for ongoing research and development as well as other operational expenses. The announcement comes days after Denali reported a study setback in ALS and follows a published report from Fierce Biotech that the company is reorganizing. Denali hasn’t disclosed the exact number of employees affected, but told Fierce the restructuring would impact “considerably less than 10%” of its staff. https://lnkd.in/e7caTB3y

Stories making headlines today in the biopharma industry: Biotech companies, focusing on radiopharmaceuticals, neuroscience, and inflammation therapies, are being acquired for substantial premiums due to their potential to bridge gaps in the pharmaceutical field. For instance, Bristol Myers Squibb purchased radiopharmaceutical company RayzeBio at a 104% premium just three months post-IPO. Raising the bar in the oncology biotech space, Pennsylvania-based ArriVent BioPharma prepares for a $175 million IPO on Nasdaq with its furmonertinib, an EGFR-targeted tyrosine kinase inhibitor, being its lead asset. Venture capital player Innovation Endeavors, co-founded by ex-Google CEO Eric Schmidt, has launched a new $630 million fund. A significant portion of this fund will invest in life sciences and healthcare, indicating the firm's increasing focus on biotech. Merck's cancer prevention drug, Keytruda, demonstrates a 31% reduction in the risk of bladder cancer recurrence or death post-surgery. Despite not achieving its expected survival endpoint, the interim analysis data shows promise. In other news, Deerfield exits a 2017 deal with Windtree Therapeutics, while Travere Therapeutics finalizes a new $120 million deal with Renalys Pharma. Additionally, Celularity raised $21 million, and Sagimet Biosciences plans for a $112.5 million public offering. Moving towards pipeline development, Strand Therapeutics scales back its workforce by 18%. However, stay optimistic as CEO Jacob Becraft assures the firm’s robust financial runway. Navigating through challenges in 2023, Lonza remains hopeful about revenue growth this year along with plans to shutter its second biologics site soon. Personal updates reveal Bayer's radiology head planning retirement and ex-Sanofi chief Olivier Brandicourt joining BeiGene’s board. After facing a dip in VC and financing in 2023, the UK's life sciences sector now seems primed for an upward trajectory. #pharma #biotech #topstories #biodatastudio

Wow! Recursion Pharmaceuticals has agreed to buy Exscientia for $688 million in an all-stock deal, merging two leading AI-driven drug discovery platforms. This acquisition enhances Recursion's pipeline and partnerships, gaining assets from Exscientia, known for collaborations with Sanofi and Merck. The combined entity will have nearly $850 million in cash to advance treatments for rare diseases and cancer. Recursion aims to "make medicines better and faster" by leveraging Exscientia's AI drug discovery capabilities. This deal underscores AI's transformative role in revolutionizing the traditionally slow drug development process. I believe this powerful merger will yield exciting innovations in the coming years. https://lnkd.in/eUwRtnPn #Biotech #AI #DrugDiscovery #Innovation #Healthcare #Recursion #Exscientia