Some biopharmas are beginning to view the tumultuous public markets with a wary eye. Infectious disease specialist Viamet Pharmaceuticals Holdings LLC, which filed in July for a $75 million initial public offering (IPO), is looking through the rearview mirror after filing Monday to withdraw its registration statement.
Instead, Viamet gained a fistful of cash to advance its antifungal franchise the old-fashioned way, closing a $60 million series D round that added newly formed Irish life sciences firm Brandon Point Industries Ltd. in collaboration with the UK's Woodford Investment Management LLP. The companies joined Viamet's existing investor syndicate, which includes Novartis Venture Fund, Lilly Ventures, Hatteras Venture Partners, Intersouth Partners, Lurie Holdings and Astellas Venture Management.
Viamet, of Research Triangle Park, N.C.,