LONDON – Pulmocide Ltd. has closed a $92 million oversubscribed series C, providing the means to take its inhaled antifungal drug, PC-945, through a global phase III registration study in invasive pulmonary aspergillosis.
Engine Biosciences Pte. Ltd., a Singapore and Silicon Valley-based company using machine learning, combinatorial genetics and other technologies to hasten the discovery of gene interactions and biological networks underlying disease, has raised $43 million in series A financing. Polaris Partners led the round, which the company said would help it expand its portfolio of precision oncology therapeutics, prepare for its first clinical programs, and scale its technology platform.
For the next three years, the government of Shanghai will hand out R&D subsidies up to ¥100 million ($15.6 million) per year to each biopharma company in the municipality to support innovative medicines. Med-tech players can also each receive up to ¥15 million a year for developing innovative devices.
The brakes have now been pumped twice at Larimar Therapeutics Inc. as the FDA placed a clinical hold on its CTI-1601 Friedreich’s ataxia (FA) clinical program, and the company won’t close on a planned $95 million private placement financing. Larimar’s stock (NASDAQ:LRMR) took a battering May 26 as shares slumped 33.46% to close at $8.99.
San Diego-based Biotheryx Inc. has raised $92 million in series E financing led by Farallon Capital Management to advance multiple molecular glues, proteolysis-targeting chimeras and monovalent degraders toward the clinic. Its first molecular glue program, BTX-1188, is expected to enter the clinic by the end of this year.
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