When James Peyer, Cambrian Biopharma Inc.’s CEO, watched his grandfather fail every cancer treatment and eventually pass away, he came to a realization that now forms the backbone of his company. “The more I learned about cancer, the more convinced I became that we were approaching cancer as a disease in the wrong way,” Peyer told BioWorld. “We were waiting until people were sick and only then doing something about it.” Cambrian just closed on an oversubscribed series C that brought in $100 million to develop a pipeline of therapies designed to treat and prevent age-related diseases.
Cedilla Therapeutics Inc., an oncology company targeting upstream aspects of native protein degradation pathways, extended its year-ago series B with a $25 million investment bringing the round's total to $82.6 million. Proceeds from the financing will support advancement of its two lead programs, an inhibitor of the transcriptional enhanced associate domain (TEAD) transcription factor in the Hippo signaling pathway for the treatment of solid tumors and a selective inhibitor of CDK2/cyclin E for the treatment of multiple tumor types.
TORONTO – Pathway Medical Inc. has raised C$1.6 million (US$1.3 million) in an oversubscribed funding round to expand its evidence-based clinical decision support platform and deliver an enterprise version of its point-of-care technology. The current mobile app uses natural language processing and machine learning to give doctors evidence-based answers to questions on patient diagnosis and treatment.
PARIS – Quantum Surgical SAS has closed $48 million in funding to finance the commercial launch of its integrated robotics platform for percutaneous treatment in liver cancer. The round was led by Hong Kong-based Ally Bridge Group who invested $24 million, or half the total amount raised. Three banks also participated in this funding round: The European Investment Bank, Bpifrance and Caisse d’Epargne Languedoc Roussillon.
Medical device maker PHC Holdings Corp. listed on the Tokyo Stock Exchange recently, raising around ¥20 billion (US$175 million). The listing was touted as the biggest IPO in Japan since 2018 but crashed spectacularly. The Tokyo-based company listed on the bourse’s First Section, and saw its shares slide 18% to ¥2,651 per share in their debut on Oct. 14. They were up 1.28% to ¥2,685 at the close of trade on Oct. 21. The 460 million shares that were issued priced at the bottom of a ¥3,250 to ¥3,500 range.
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