This Week in Digital Health’s Post

In business news, Bright Peak Therapeutics announced that it raised $90 million in a Series C financing. The round was led by Johnson & Johnson Innovation – JJDC, with participation from additional new investors Venrock, KB Investment, and Northleaf Capital Partners. Existing investors participating in the round include founding investor Versant Ventures along with Fidelity Management & Research Company, RA Capital Management, Qatar Investment Authority, Invus, Alexandria Venture Investments, and an undisclosed leading healthcare investment fund. Proceeds from the Series C financing will be used to advance BPT567 into a Phase 1/2a clinical trial and accelerate a pipeline of next-generation immunotherapies. BPT567 is a first-in-class PD1-IL18 immunoconjugate designed to provide simultaneous blockade of the PD(L)-1 checkpoint pathway and targeted delivery of IL-18 signaling. https://lnkd.in/eFurmiVb

Alumis, an 𝐢𝐦𝐦𝐮𝐧𝐨𝐥𝐨𝐠𝐲 𝐛𝐢𝐨𝐭𝐞𝐜𝐡 on the cusp of 𝐏𝐡𝐚𝐬𝐞 𝟑, has secured $𝟐𝟓𝟎𝐌 𝐢𝐧 𝐚 𝐬𝐡𝐫𝐮𝐧𝐤𝐞𝐧 𝐈𝐏𝐎. The Bay Area startup sold 𝟏𝟑.𝟏𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐬𝐡𝐚𝐫𝐞𝐬 𝐚𝐭 $𝟏𝟔 𝐞𝐚𝐜𝐡 to fund the late-stage testing of its lead 𝐓𝐘𝐊𝟐 𝐝𝐫𝐮𝐠, studies of a second asset in neuroinflammatory conditions, and preclinical projects. While the IPO was smaller than initially projected, an additional 𝟐.𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐬𝐡𝐚𝐫𝐞𝐬 were sold in a concurrent private placement. With $𝟑𝟒𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐞𝐝 toward clinical development, Alumis aims to create a next-gen immunology treatment, facing competition from Bristol Myers Squibb’s Sotyktu and Takeda’s TAK-279. Alumis has spent heavily on R&D, with $𝟏𝟑𝟕 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐥𝐚𝐬𝐭 𝐲𝐞𝐚𝐫 𝐚𝐧𝐝 $𝟏𝟎𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐. The company, led by Martin Babler, hopes to buck the trend of biotechs trading below their IPO price. https://lnkd.in/eK_H6kda #Biotech #Immunology #IPO #Pharma #HealthcareInnovation

It’s time to find out who bagged the biggest private biotech investments in June 2024! 💰 The biggest funding rounds went to the companies Formation Bio, ITM Isotope Technologies Munich SE, and Marea Therapeutics. 📈 Meanwhile, around the world, oncology and central nervous system players attracted the biggest funding rounds overall. 🌍 Read our latest article to find out more about biotech’s biggest private investments in June, as we break down the investments by location and funding type, and compare June’s fundraising to previous months. 💡 https://lnkd.in/dYvuBVt9 #biotechinvestments #oncologyresearch #biotechfunding #healthcareinnovation #investmenttrends #globalbiotech #lifesciences Santa Ana Bio, Inc. | Alzheon, Inc. | Preserving Future Memories | Bright Peak Therapeutics | iOnctura | InduPro | Exsilio Therapeutics | Elion Therapeutics | Enveda Biosciences | Iambic Therapeutics | Spur Therapeutics | āshibio, Inc | Adcytherix | Envisagenics | Vilya | Frontier Medicines | Augustine Therapeutics | GPN Vaccines

AltruBio Inc., a clinical-stage biotechnology company based in San Francisco, CA, has raised $225 million in a Series B funding round. The financing was led by BVF Partners LP, with participation from new investors RA Capital Management, Cormorant Asset Management, Soleus Capital, and existing investors aMoon Fund and Blackstone Multi-Asset Investing, among others. This significant influx of capital will enable AltruBio to advance the clinical development of its lead product candidate, ALTB-268, an immune checkpoint enhancer (ICE) PSGL-1 agonist antibody. Specifically, the funds will support ongoing and planned Phase 2 clinical trials evaluating ALTB-268 as a potential treatment for ulcerative colitis (UC), a form of inflammatory bowel disease. AltruBio aims to leverage this financing to further its pipeline of immunotherapies. https://lnkd.in/gmhpkapq

#fundingalert 💼Company: SynOx Therapeutics 💰Funding: $75Million ⚡Round: Series B  👥Investors: Forbion, HealthCap, Bioqube Ventures, Jon Edwards, PhD, and Carlo Incerti. Founded in November 2020, SynOx Therapeutics Ltd.'s only goal is to develop emactuzumab for use in treating diffuse tenosynovial giant cell tumours (TGCT) and other conditions. With a solid track record of developing biopharma enterprises, SynOx has the support of a syndicate of investors. Biotech startup. The money will be used by the business to provide registrational Phase 3 clinical and CMC data for emactuzumab, a monoclonal antibody (mAb) that inhibits CSF-1(R) and may be the best in class for treating Tenosynovial Giant Cell Tumours (TGCT). Raymond Barlow, Hamina Patel, MB BCh MSc MRCPI, Broes Naeye, Sarah Clare, Sander Veltkamp. Read more - https://lnkd.in/gs-h6Kyd To share your startup story write us on - contact@startuprise.co.uk #SynOxTherapeutics #biopharma #Biotechstartup #funding #fundingnews #news #startupnews #news #startuprise

#fundingalert 💼Company: Attovia Therapeutics 💰Funding: $105Million ⚡Round: Series B 👥Investors: Goldman Sachs Alternatives, Cormorant Asset Management, LP, Nextech Ventures, Redmile Group, EcoR1 Capital, LLC, Marshall Wace, and Logos Capital. Attovia is creating a pipeline of biotherapeutics with an initial focus on immune-mediated diseases. The company leverages ATTOBODY™, a biparatopic biologics platform, to generate binders that offer stronger efficacy and a broader universe of druggable epitopes compared to traditional approaches. The financing will be used to advance the Company’s lead programs ATTO-1310 and ATTO-002 through initial clinical data readouts, expand the Company’s immunology and inflammation pipeline, and to further develop the ATTOBODY™ platform. Tao Fu, Colin Walsh, PhD, Hubert Chen, Zaneta Odrowaz, Petter Veiby , Hangjun Zhan Read more - https://lnkd.in/gyK-kDfU To share your startup story write us on - contact@startuprise.io #AttoviaTherapeutics #inflammation #biparatopic #immunology #funding #fundingnews #news #startup #startupnews

📢 Funding Updates: Ratio Therapeutics has raised an impressive $50 million in a series B round to transition their primary asset into clinical trials. This brings their total funds raised to $90 million! Ratio Therapeutics is a small biotech company specializing in radiotherapeutics for solid tumor treatment. Their primary asset is a fibroblast activation protein-alpha (FAP) targeted therapeutic, which they are bringing into clinical trials by the end of the year, along with two proprietary technology platforms, Trillium™ and Macropa™. With big pharma names such as Bristol Myers Squibb, Lantheus, Merck Group and Bayer as investors and collaborators, Ratio Therapeutics has earned the trust of executives in the industry. Keep an eye out for this promising company and their assets as they move towards clinical trials. https://lnkd.in/eZaytBhc #biotech #radiotherapeutics #clinicaltrials #investment #healthcare

ArriVent files for IPO, raising funds as it takes PhIII cancer drug through trial >>> lqventures.com #strategy #competitiveintelligence #marketing #pharmaceutical #pharma #biotech #healthcare #productmarketing

🌟 Capstan Therapeutics Secures $175M in Oversubscribed Series B Financing 🌟 In an impressive development, Capstan Therapeutics has successfully closed a remarkable $175 million in oversubscribed Series B financing. This strategic round was led by RA Capital Management and saw participation from a host of new investors including Forbion, Johnson & Johnson Innovation – JJDC, Mubadala Capital, Perceptive Advisors, and Sofinnova Investments. This influx of support also included continued investments from Capstan’s stalwart existing backers. The funds from this financing round are earmarked for a pivotal advancement: propelling Capstan’s flagship in vivo CAR-T product candidate, CPTX2309, towards early clinical proof-of-concept in autoimmune disorders. CPTX2309, leveraging Capstan’s innovative tLNP platform, aims to revolutionize the treatment landscape by enabling the in vivo engineering of CAR-T cells, offering a potential leap forward in autoimmune therapy. With this funding, Capstan also welcomes Nanna Luneborg, Ph.D., MBA, a General Partner at Forbion, to its Board of Directors, marking a significant addition to its leadership team as the company navigates through this critical phase. This series B financing not only underscores the confidence in Capstan’s pioneering in vivoCAR-T technology but also highlights the collective vision of an exceptional syndicate of investors. Their backing is instrumental as Capstan embarks on its mission to bring novel therapeutic modalities to patients, underscoring a shared commitment to transforming patient care through innovation. #CapstanTherapeutics #BiotechInnovation #SeriesBFinancing #HealthcareInvestment

ArriVent files for IPO, raising funds as it takes PhIII cancer drug through trial >>> lqventures.com #strategy #competitiveintelligence #marketing #biotech #healthcare #pharmaceutical #pharma #productmarketing