DUBLIN – Sofinnova Partners closed out its flagship Capital X fund at €472 million (US$550 million), providing further evidence that private equity investing in European biotechnology and medical technology remains in rude health. It represents, managing partner Graziano Seghezzi told BioWorld, one of the most successful fundraising campaigns in its 30-year history. “We went out and raised this fund in six months.”
D&D Pharmatech Inc., a Korean-American firm commercializing innovation from Johns Hopkins University raised $51 million in a pre-IPO series C round, which sets the stage for an IPO in Seoul early next year.
Abbisko Cayman Ltd. has raised $226 million through an IPO in Hong Kong, where it launched with an initial price of HK$12.46 (US$1.60) per share. The company, doing business as Abbisko Therapeutics, plans to use about a third of the proceeds for research and development of its lead candidate, ABSK-091, a targeted inhibitor of fibroblast growth factor receptor subtypes 1, 2 and 3 intended as a potential treatment for multiple solid tumors, including urothelial cancer, gastric cancer, cholangiocarcinoma and lung cancer.
Tentarix Biotherapeutics LP broke cover with $50 million in series A funding to take forward an industrialized flow cytometry platform that enables it to screen rapidly for multifunctional antibody-based drugs.
DUBLIN – Abalos Therapeutics GmbH raised €32.5 million (US$37.6 million) in a series A extension, taking the total raise to €43 million, enough to enable the company to generate clinical proof-of-concept data with its lead viral immunotherapy for cancer.
Jonathan Moore, who was employee No. 36 when he came to Vertex Inc. in 1990 and ended up spending the next 28 years at the company, realized he wasn’t done with his work in ATP-binding cassette (ABC) transporters and has now formed Rectify Pharmaceuticals Inc. The new company just closed on a $100 million series A financing to fund development of a pipeline of therapies to restore ABC transporter function for treating genetic diseases.
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