Bonum Therapeutics Inc., a spinout of Good Therapeutics Inc., which Roche Holding AG acquired in August, has announced a US$93 million series A financing. Bonum is developing new therapies based on the proprietary platform of allosterically regulated, conditionally active therapeutics developed by Good Therapeutics. The core platform makes possible the engineering and development of a wide range of medicines.
Zenas Biopharma LLC has raised $118 million in a series B round to support a global phase III trial of its lead asset as well as other immunotherapies for autoimmune diseases in its pipeline. The study, expected to begin in 2023, will evaluate obexelimab for the treatment of patients with immunoglobulin G4-related disease in late 2022.
NRG Therapeutics Ltd. has closed a £16 million (US$18.3 million) series A round to take forward programs in Parkinson’s disease and amyotrophic lateral sclerosis, after pinning down the target of its brain penetrant small molecules.
Therapy delivery and the physicians who administer them are keys in CG Oncology Inc.’s drive to develop bladder cancer treatments. The company, which just closed an oversubscribed $120 million series E financing to continue on the development path, has its lead oncolytic immunotherapy, CG-0070, intravesically delivered via a catheter, in the clinic.
Momentum is building at Jnana Therapeutics Inc. The firm has raised $107 million in a series C round and banked another $50 million up front from a new drug discovery and development pact with Roche Holding AG, which could potentially deliver significant near-term milestones and more than $2 billion in future milestone payments. It also commenced recruitment onto a first-in-human study of its lead drug candidate, JNT-517, an inhibitor of the phenylalanine transporter SLC6A19, which is in development for phenylketonuria.
A large notes offering this month and a pick-up in public raises have boosted med-tech financings, which are now tracking similarly with 2019. So far this year, the med-tech industry has raised $35.7 billion through 457 transactions. The amount raised is down by 23% in comparison with the same time frame in 2021, although a few months ago that gap was 48%. The current volume is down by 25.4%.