Newco Commit Biologics ApS has arrived on the scene after raising €16 million (US$17.2 million) in a seed round to advance bispecific antibodies that are designed to activate the complement system and direct it to selectively kill cancer cells.

The Global Health Innovative Technology (GHIT) Fund has announced a total investment of approximately ¥1.64 billion (US$10.8 million) in four projects for the development of new drugs for malaria and neglected tropical diseases.

“A white space opportunity.” That’s how Enlaza Therapeutics Inc. co-founder and CEO Sergio Duron described to BioWorld the company’s efforts to develop the first covalent biologics, an endeavor that has gained the backing of an impressive group of investors in a recently closed $100 million series A round.

Latus Bio Inc. has launched with a focus on developing novel gene therapy candidates for central nervous system (CNS) disorders. An initial close of $54 million in series A financing will support the company.

Accession Therapeutics Ltd. has raised £25 million (US$31.3 million) to fund it through the generation of the first clinical data for its lead product, TROCEPT-01 (ATTR-01), and completion of IND-enabling studies for a second program. The internal early-stage pipeline will also be progressed.

Revopsis Therapeutics Inc. has closed its first seed funding round, raising $16.5 million that will fund the completion of ongoing IND-enabling studies with its lead candidate, RO-104, for the treatment of neovascular age-related macular degeneration (nAMD). Developed using the company’s proprietary Rev-Mod platform, RO-104 is a potentially first-in-class fully human modular trispecific biologic.

In one of the biggest startups ever, Xaira Therapeutics has launched with more than $1 billion from investors. The financing, according to BioWorld records, is roughly equivalent to Roivant Sciences Inc.’s $1.1 billion raise in August 2017 and Galderma Inc.’s $1 billion private placement in June 2023. Xaira said it plans to leverage advanced machine learning research and expansive data generation to power new models for developing new therapeutics.

Newco Outrun Therapeutics Ltd. has raised $10 million in a seed round to develop small-molecule E3 ubiquitin ligase inhibitors that prevent programmed protein degradation. The lead program targeting an E3 ligase that tags a tumor suppressor protein for destruction will now advance to preclinical development.

On the heels of a $4.6 million series A round in December 2023, cell therapy company Rxcell Inc. is planning to raise another $15 million in 2024 to take its iPSC-derived photoreceptors to the clinic for retinitis pigmentosa and other degenerative diseases of the retina.