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DUBLIN – Gesynta Pharma AB raised SEK190 million (US$20.6 million) in new funding to move GS-248, a selective inhibitor of microsomal prostaglandin E synthase-1 (mPGES-1), into a phase IIa trial in systemic sclerosis. The study is due to get underway toward the year end. “It’s going to be in the second half of the fourth quarter,” said Patric Stenberg, CEO of Lund, Sweden-based Gesynta.
Velosbio Inc., a San Diego-based company developing cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), has raised $137 million in series B financing to support development of its lead antibody-drug conjugate (ADC), VLS-101, and continued expansion of its pipeline.
DUBLIN – Osivax SAS has assembled a public funding package of more than €32 million (US$36.3 million) to pursue ongoing clinical development of its universal flu vaccine and to take forward a coronavirus vaccine program based on a similar approach, involving vaccine-like particle (VLP) technology.
LONDON – Varmx BV is poised to demonstrate its modified recombinant factor X acts a universal antidote to reverse the effects of direct oral anticoagulants in patients suffering severe spontaneous bleeding or needing emergency surgery, after closing a €32 million (US$36.1 million) series B round.
HONG KONG – SK Biopharmaceuticals Co Ltd.’s shares are still basking in the afterglow of a successful entrance on the Korea Exchange, which raised ?959.30 billion (US$799 million).
Amid a world that has been brought to its knees by the COVID-19 pandemic, the biopharma industry has learned how to quickly adapt under these extreme circumstances. Not only has it rapidly brought to bear huge research efforts to uncover potential therapeutics and vaccines to counter the circulating coronavirus, but also it has learned how to conduct its business activities in a completely different way. For example, the pandemic hasn't stopped biopharmas from going public, with 15 companies graduating to the public arena in June alone. These financings have contributed to the $62 billion that has been generated in combined global public and private company financings in the first half of the year.
LONDON – Mission Therapeutics Ltd. has sealed a discovery deal with Pfizer Inc. around its small-molecule protein degradation platform and raised $15 million as an extension to its series C, with Pfizer Ventures leading the round.
HONG KONG - Ocumension Therapeutics Ltd., a China-based ophthalmic pharmaceutical company, launched its IPO on the Hong Kong Exchange (HKEX) this week. The company seeks to raise more than HK$1.5 billion (US$190 million).
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