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Askgene Pharma Inc., which less than two weeks ago reported positive initial data from an ongoing phase I/II trial testing its claudin 18.2-targeting candidate, ASKB-589, added $20 million in a series A round, intended to advance the company’s clinical pipeline and support further development of its Smartkine cytokine drug platform.
IPOs continue to be sluggish but two companies, Pepgen Inc. and Bausch & Lomb Corp., that began trading May 6 managed to sidestep the turbulence despite having to lower their expectations before the market opened.
With a 2020 launch behind it, Moma Therapeutics Inc. has completed a $150 series B financing to continue refining its pipeline of therapies targeting tough-to-drug enzymes in treating solid tumors.
Askgene Pharma Inc., which less than two weeks ago reported positive initial data from an ongoing phase I/II trial testing its claudin 18.2-targeting candidate, ASKB-589, added $20 million in a series A round, intended to advance the company’s clinical pipeline and support further development of its Smartkine cytokine drug platform.
Aspen Neuroscience Inc. has closed a series B financing of $147.5 million. The funds will help get its autologous neuron replacement candidate into a phase I/IIa study for Parkinson’s disease. Privately held Aspen has been talking about initiating the phase I/IIa clinical trial since at least 2019. But in April 2022, it came a lot closer to reality. That’s when the company launched its first patient screening studies at several sites in the U.S. Now, the trial-ready cohort study is designed to screen potential participants for the study.
With 47% fewer biopharma financings than last year, investors who were once enthused over the industry’s potential in combatting the deadly SARS-CoV-2 virus appear to be taking a step back. So far in 2022, the industry has raised $18 billion across 346 financings through the first week of May. By the same time in 2021, it had raised three times that amount, $53.9 billion through 651 transactions.
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