Algenex SL, of Madrid, Spain, said it secured an investment of €7.4 million (US$8.72 million) in a private financing round led by Masterlux. The funds will support the future development of its Crisbio technology, including the European approval of the first veterinary vaccine produced using this technology. The funds will also be used to strengthen new GMP production facilities and develop its pipeline of human vaccines.
Graybug Vision Inc., of Redwood City, Calif., which is developing medicines to treat chronic diseases of the retina and optic nerve, has filed to raise up to $86 million in an IPO. The company’s ocular delivery technologies are designed to maintain effective drug levels in ocular tissue for up to six months and potentially longer. The lead product candidate, GB-102, a microparticle depot formulation of sunitinib malate, inhibits multiple neovascular pathways for the intravitreal treatment of retinal diseases, including wet age-related macular degeneration, with a six-month dosing regimen. The company said it is also using its technologies to develop GB-401, an injectable depot formulation of a beta-adrenergic prodrug, for primary open-angle glaucoma, with a dosing regimen of once every six months or longer, and GB-103, a longer-acting version of GB-102, designed to maintain therapeutic drug levels in the retinal tissue for 12 months with a single injection. It plans to list its shares on Nasdaq under the symbol GRAY.
Immunovant Inc., of New York, said it closed its underwritten public offering of 6.06 million shares, which includes the full exercise of the underwriters’ option to purchase 790,513 additional shares, priced at $33 each for gross proceeds of approximately $200 million.
Inversago Pharma Inc., of Montreal, Quebec, said it raised $35 million in a series B financing round led by Forbion, with co-investment from the Fonds de solidarité FTQ, and participation from existing investors Genesys, JDRF T1D Fund, Amorchem, Anges Québec Capital, Admare Bioinnovations and angels. The proceeds will be used to develop Inversago’s peripherally acting CB1 inverse agonist candidate, INV-101, to clinical proof of concept, and to advance the research on other selected compounds. The company said it is aiming to provide new treatment options that improve the lives of patients affected by metabolic conditions such as Prader-Willi syndrome, nonalcoholic steatohepatitis, type 1 diabetes and diabetic nephropathy.
Manifold Bio Inc., of Boston, a spinout from George Church’s laboratory at Harvard Medical School focused on increasing the throughput of protein therapeutics testing in vivo, said it closed a $5.4 million seed investment round led by Playground Global. The investment will enable the company to expand its staff and accelerate the development of a proprietary protein quantitation platform.
PMV Pharmaceuticals Inc., of Cranbury, N.J., a precision oncology company involved in the discovery and development of small-molecule, tumor-agnostic therapies targeting p53 mutations, has filed to raise up to $100 million in an IPO. In August, it completed a $70 million series D financing. The company plans to list its shares on Nasdaq under the symbol PMVP.
Prelude Therapeutics Inc., of Wilmington, Del., has filed to raise up to $100 million in an IPO. It recently completed a $50 million series C financing round led by the company’s two existing institutional investors, including Orbimed Advisors LLC, and a new investor, Fidelity Management & Research Company LLC. The proceeds are being used to support the growth and advancement of its product pipeline, including lead product candidates, PRMT5 inhibitors PRT-543 and PRT-811, and PRT-1419, a selective inhibitor of the anti-apoptotic protein MCL1. The company is evaluating PRT-543 in a phase I trial with an initial focus in select solid tumors and myeloid malignancies, and PRT-811 in a phase I trial in solid tumors, including glioblastoma multiforme. Prelude is also initiating clinical trial activities for PRT-1419 in selected hematological malignancies. The company plans to list its shares on Nasdaq under the symbol PRLD.