Investors have injected $8.4 million into Swedish startup Sigrid Therapeutics AB to speed development of its oral medical device Sipore15. The technology is a tasteless and odorless white powder taken with water to reduce blood sugar levels in people at risk of developing diabetes.
Color Health Inc. followed its rainbow to another pot of gold, collecting $100 million in a series E financing round led by Kindred Ventures and funds advised by T. Rowe Price Associates Inc. Returning funding round participants also included General Catalyst, the company’s long-time lead investor, Viking Global Investors and Emerson Collective. With the latest cash infusion, the company’s total funds raised to date reached $378 million and its valuation of $4.6 billion propelled it into the top dozen health care unicorns. Founded in 2017 as Color Genomics, the Burlingame, Calif.-based company has raised more than two-thirds of its total funding this year with today’s series E following the close of a $167 million series D round in January.
Geninus Inc. endured a difficult debut on Korea Exchange’s Kosdaq board, but still raised ₩40 billion (US$33.83 million) through its listing. The 2 million shares on offer tumbled 25.56% at ₩13,400 (US$11.33) at the close of trading on Nov. 8, after Geninus priced them at ₩20,000.
LONDON – PCR point of care testing specialist Quantumdx Group Ltd. is poised to accelerate its commercial development in China, after the Hong Kong venture capital fund Vita Spring made a £15 million (US$20.3 million) equity investment.
After a shaky start to the year, Autolus Therapeutics plc has revived its fortunes, with Blackstone Life Sciences investing up to $250 million to fund its CAR T-cell technology and lead product targeting acute lymphoblastic leukemia.
Marengo Therapeutics Inc. is opening up a new front in the war on cancer by selectively deploying a tumor-infiltrating subpopulation of T cells, which can be activated by a newly identified, antibody-based mechanism. The Cambridge, Mass.-based company is taking forward a scientific concept that has been germinating for several years at founding investor and company creator ATP, which has now launched the firm with an $80 million series A round. Marengo is gearing up for a first clinical trial in 2022. “It’s a new chapter in T-cell biology,” CEO Zhen Su told BioWorld.
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