The Global Health Innovative Technology (GHIT) Fund has announced a total investment of approximately ¥1.64 billion (US$10.8 million) in four projects for the development of new drugs for malaria and neglected tropical diseases.
Prologue Medicines Inc. has launched to develop therapeutics created from the viral proteome, which are proteins produced across all viruses. It’s a newer twist on harnessing the power of the proteins that regulate biology.
Memo Therapeutics AG has added a further CHF20 million (US$22 million) to its series C, bringing the total for the round to CHF45 million and enabling the company to expand the phase II trial of its lead program, AntiBKV, in neutralizing BK virus infection in immune compromised kidney transplant recipients.
The bifunctional antibody approach continues to pay off for Zenas Biopharma Inc., which banked an upsized $200 million series C preferred stock financing led by SR One along with NEA, Norwest Venture Partners and Delos Capital. Enavate Sciences and Longitude Capital participated significantly as well.
Although the $6.03 billion in biopharma financings raised in April is down from $13.84 billion in financings in March and $22.3 billion in February, the monthly average of $13.29 billion for all financings is up 125% from the average of $5.91 billion a month in 2023.
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