A new $23 million in funds gives Brainbox Solutions Inc. a head start as it begins enrollment in the pivotal clinical trial of its mild traumatic brain injury (TBI) diagnostic and prognostic test. Bioventures Investors took the lead in the series A financing. The Tauber Foundation, the Virginia Tech Carilion Innovation and Seed Funds, Genoa VC, Pharmakon Holdings LLC, and Astia Angels participated in the fundraising round along with qualified investors including the Cleveland Cavaliers' Kevin Love, a mental health advocate.
Emboline Inc., which is developing technology to reduce the chance of stroke during transcatheter heart procedures, completed a $10 million series C financing. The funds are earmarked to gain initial commercial approval of the company’s Emboliner device and to launch a U.S. pivotal study. The round, which included new and existing investors, follows a $5 million bridge round of financing that closed last January.
COVID-19 vaccines have taken most of the limelight lately, but therapies are making progress, too, with San Diego-based Atyr Pharma Inc. and Cerecor Inc., of Rockville, Md., separately offering favorable phase II news.
A metastatic renal cell carcinoma (RCC) trial once expected to pave a path to registration for the Calithera Biosciences Inc. candidate telaglenastat failed to show a benefit from the drug in a new analysis of the pivotal phase II study, Cantata. While company executives voiced confidence in the drug's prospects in another indication, non-small-cell lung cancer (NSCLC), analyst and investor faith appeared less sturdy, as company shares (NASDAQ:CALA) fell 44.6% to $2.72 on Jan. 4.
Sutro Biopharma Inc.’s stock-perking news in early December with STRO-002, a folate receptor alpha-targeting antibody-drug conjugate (ADC) to treat ovarian cancer, reminded investors of potential in the class, which has been more than realized in recent years and could yield more upside in the near term. As of the Oct. 30 cutoff date, STRO-002 tallied one complete response and nine partial responses in the challenging indication, which works out to an overall response rate of 32% (10 out of 31) in evaluable patients.
Lexagene Holdings Inc. started a series of studies for submission to the U.S. FDA for emergency use authorization (EUA) for its point-of-care system and adaptable COVID-19 assay. The open-access technology enables rapid configuration for new COVID-19 variants.
Clinical updates, including trial initiations, enrollment status and data readouts and publications: Axsome, Direct Biologics, Lexicon, Netris, Redhill.
While several companies are looking to help recurrent glioblastoma patients, Carthera SAS has taken a step forward by bringing its Sonocloud-9 device into a phase I/II clinical trial. Northwestern University in Chicago will collaborate with the company in the trial, which is expected to enroll up to 39 patients. The first patient already has been treated.
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