Despite a global pandemic that is wreaking havoc on the overall economy, biopharma financings and grants during the month of April have shown solid numbers.
9 Meters Biopharma Inc., of Raleigh, N.C., is newly born from the merger of Innovate Biopharmaceuticals Inc. and privately held RDD Pharma Ltd., of New York and Tel Aviv, Israel. About $22 million in new financing, led by Orbimed Advisors Ltd., and the signing of another merger into the new company of Richmond, Calif.-based Naia Rare Diseases Inc., which develops GLP-1 to treat short bowel syndrome, completes 9 Meters’ new path.
Taysha Gene Therapies Inc., a new Dallas-based company reuniting former executives of Avexis Inc. and its funders, has launched with a $30 million seed financing intended to advance a pipeline of 15 new AAV-based candidates. Its team expects to file four INDs by the end of 2021, starting with one for GM2-gangliosidosis that could move to the clinic later this year.
Saratoga, Calif.-based startup Mojo Vision Inc. has raised $51 million in a series B-1 financing led by existing investor New Enterprise Associates (NEA). The money will be used to advance development of the Mojo Lens, the company’s first-of-a-kind smart contact lens powered by augmented reality (AR) technology.
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