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Principia Biopharma Inc. has raised $50 million to advance the company's pipeline of small-molecule autoimmune and oncology therapies into clinical testing. Sofinnova Ventures led the funding, citing strong preclinical validation of Principia's pipeline and its prolific drug discovery engine.
Zafgen Inc. defied recent trends to downsize biotech initial public offerings (IPO) by filing with the SEC to seek a raise of up to $86.25 million, excluding overallotments. If the offering amount stands, Zafgen would slide into a tie with Radius Health Inc. for third place among 22 biotechs sitting in the IPO queue.
An angina drug dating back to the 1970s until its use was curtailed due to toxicity is back in development, this time aimed at rare hereditary heart disease hypertrophic cardiomyopathy (HCM) in the hands of Heart Metabolics Ltd., which relaunched as an Irish firm and disclosed Thursday a $20 million series A round.
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