With a 349% increase in stock price since its June debut on U.S. markets, Boston-based Karuna Therapeutics Inc. secures the title of best IPO performer so far in 2019. The stock skyrocketed in November following positive top-line phase II data of Karxt in acute psychosis in patients with schizophrenia, providing a potential read-through to larger indications such as Alzheimer’s disease and pain.
HONG KONG – Neurophet Inc., a South Korean AI-based brain disease diagnostics company, has secured ₩6 billion (US$5.1 million) in series A funding. The med-tech startup produces solutions based on Segengine, the company’s own technology that automatically segments brain magnetic resonance (MR) images into 107 regions within a minute.
PERTH, Australia – On the heels of positive phase IIb data, Melbourne-based Opthea Ltd. announced a private placement of AU$50 million (US$33.87 million) from institutional investors in Australia and the U.K. to advance lead candidate OPT-302 to phase III trials in wet age-related macular degeneration (AMD).
IFM Therapeutics LLC, an innate immunity specialist that's quickly sparked major deals with big pharma, is stoking the generative fire at its heart with $55.5 million in new financing led by Boston-based Omega Funds. The Boston-based company will use the funds to launch as many as three new subsidiaries, starting with IFM Quattro and a new incubator, IFM Discovery.