Avidity Biosciences Inc., of La Jolla, Calif., said it completed a $16 million series B financing round to support the development of its antibody-siRNA conjugate (ASC) platform. The round includes an investment of $10 million in new capital and conversion of $6 million in convertible debt. Osaka, Japan-based Takeda Pharmaceuticals Ltd., through its venture group, led the financing, and both new and existing investors participated, including Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, Ecor1 Capital, F-Prime Capital, Moore Venture Partners and Tavistock Life Sciences. ASCs link a monoclonal antibody, designed against a specific molecular target, with a siRNA therapeutic payload, allowing the conjugate to have significant specificity and selectivity. In preclinical models, ASCs have shown potential to knock down messenger RNA levels in multiple important cell types and tissues, including tumor, muscle, heart, lung, liver and B cells. In addition, the company said, ASCs have drug-like properties comparable to antibodies and antibody-drug conjugates. Separately, the company announced that a publication, titled "Targeting Therapeutic Oligonucleotides," authored by Arthur Levin, executive vice president of research and development, has been published in the Jan. 5, 2017, issue of The New England Journal of Medicine.

Aobiome LLC, of Cambridge, Mass., said it partnered with Icarbonx, China's largest health data collection and analysis platform, which has made a $30 million investment in the company. Aobiome is focused on microbiome drug development and has launched a phase II trial employing its bacterial platform for treatment of hypertension. It is the second trial and targets ammonia-oxidizing bacteria (AOB), following the initiation of its acne vulgaris phase IIb trial last year. Once deployed, the company's AOBs are designed to consume ammonia and produce nitrite and nitric oxide, key signaling molecules known to regulate inflammation and vasodilation.

Biovie Inc., of Beverly, Mass., said it completed a common stock purchase agreement with Aspire Capital Fund LLC, a Chicago-based institutional investor, to purchase up to $12 million of its common stock over a 30-month period. Aspire made an initial purchase $200,000 of stock at 20 cents per share and received warrants to purchase an additional 500,000 shares at a 50-cent-per-share exercise price within five years. After a registration statement related to the transaction has been filed and declared effective by the SEC, Biovie will have the right to sell up to $11.8 million of additional common stock to Aspire at the prevailing market prices at the time of each sale. Proceeds will be used for general corporate purposes, including preparing for the BIV201 clinical trial expected to begin this spring.

Blackthorn Therapeutics Inc., of South San Francisco, said it closed a $14 million extension of its series A financing, joined by GV (formerly Google Ventures) and Biomatics Capital. The extension brings the total series A to $54 million, and the new investors join existing investors Arch Venture Partners, Johnson & Johnson Innovation – JJDC Inc., Mercury Fund, Alexandria Real Estate Equities and Altitude Life Science Ventures. Blackthorn plans to use the additional funding to progress its lead clinical-stage asset, BTRX-246040, through phase II development, as well as to conduct additional exploratory pilot studies in targeted indications. BTRX-246040 is an antagonist of the nociceptin receptor, a target linked to multiple neurobehavioral disorders.

Clovis Oncology Inc., of Boulder, Colo., said the underwriters of its public offering of common stock have exercised in full their option to purchase an additional 750,000 shares at $41 each. J. P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers and Stifel and Suntrust Robinson Humphrey are acting as co-managers.

Hatteras Venture Partners, of Durham N.C., said it has made the final closing of Hatteras Venture Partners V (HVP V) with more than $150 million in total capital. The fund will continue to develop its strategy of building companies in the human medicine life sciences sector by investing at the seed and early stage. Similar to HVP IV, the firm will allocate a portion of HVP V to Hatteras Discovery to expand its successful model of company formation.

Jupiter Orphan Therapeutics Inc., of Jupiter, Fla., said it secured a $2 million financing commitment from Tarnagulla Ventures, of Melbourne, Australia. The financing is in the form of a convertible note with the first $1 million paid out immediately and the remaining $1 million to be paid when certain milestones are met. In addition, the company said it has received $500,000 in an equity financing through a charity-based financing group.

Microbion Corp., of Bozeman, Mont., received a $25 million investment from Quark Ventures Inc. and GF Securities. Microbion is developing lead compound MBN-101, a broad-spectrum antibacterial, to treat infections by attacking both bacteria and related microbial biofilms. Funds will allow the firm to start and complete a phase Ib/IIa study in diabetic foot ulcer (DFU) infections. The FDA granted qualified infectious disease product and fast track designations for moderate to severe DFUs.

Neurelis Inc., of San Diego, said it has finalized a series B financing round led by HBM Healthcare Investments. In addition, Lyzz Capital, which led the firm's series A funding, also participated. The company will utilize the undisclosed amount of funds to complete clinical trials for NRL-1 (intranasal diazepam), prepare a planned new drug application (NDA) for submission to the FDA and begin preparations for the commercial launch of the product. NRL-1 is being developed for pediatric, adolescent and adult epilepsy patients who experience acute repetitive or cluster seizures. The program is in the final phase of clinical development and the NDA application is planned for submission in 2018.

Satsuma Pharmaceuticals Inc., of San Francisco, said it closed a $12 million series A round co-led by RA Capital Management and TPG Biotech. Satsuma plans to use funds to accelerate development of its lead product candidate, STS101, a potential best-in-class therapy for migraine that combines the migraine drug dihydroergotamine with the firm's dry-powder nasal formulation and delivery technologies. RA Capital's Rajeev Shah and TPG's Heath Lukatch joined Satsuma's board.

Therachon AG, of Basel, Switzerland, said it raised $5 million in the final close of its series A financing to bring the round total to $40 million; $35 million was received in September 2015. Proceeds will be used to advance the company's emerging portfolio, including its lead program, TA-46, a protein therapy in achondroplasia, the most common form of short-limbed dwarfism. The company also said it appointed Luca Santarelli as CEO and director. (See BioWorld Today, Sept. 30, 2015.)

Trefoil Therapeutics Inc., of San Diego, said it closed an oversubscribed $5.2 million series 1 financing led by Hatteras Venture Partners and including AJU IB Investment, Correlation Ventures, Exsight Capital and Infocus Capital. That funding, in conjunction with the recent support from the NIH's National Center for Advancing Translational Sciences Therapeutics for Rare and Neglected Diseases, will allow the firm to move toward an IND filing for its engineered derivatives of fibroblast growth factor-1. Lead candidate TTHX1114 is in development for Fuchs endothelial corneal dystrophy.