Bioelectronic medicine startup Setpoint Medical Corp. raised $80 million in a preferred stock financing co-led by new investors Norwest Venture Partners and Viking Global Investors. The company has also secured a line of credit for up to $65 million, bringing total access to capital to up to $145 million.
It’s been a tough year for raising biotech money, according to the new U.K. Biotech Financing Report, but there are bright spots in an otherwise dark period. What happened last year in the U.K. basically mirrored what happened with global financings as IPOs are significantly down while venture capital rounds stood strong.
HBM Alpha Therapeutics Inc. has completed seed financing to advance its lead programs, novel antibody therapies to treat congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS).
An anticancer approach that leads to improved tumor visibility edged closer to the clinic after Grey Wolf Therapeutics Ltd. scooped $49 million in a series B round. The Oxford, U.K.-based immuno-oncology company plans to use the proceeds to move its lead candidate, GRWD-5769, into a phase I/II trial.
Coming off a tough year for raising money, Cadrenal Therapeutics Inc. is leading the charge into a new year by completing 2023’s first U.S. IPO. The company closed its IPO of 1.4 million shares at $5 each for $7 million. The stock (NASDAQ:CVKD) began trading Jan. 20 and closed 9.37% downward on Jan. 25 at $2.90 per share.
RSS
