Recurv Pharma Inc. is set to receive investment of up to $24 million from TVM Capital Life Science GmbH to support development up to phase IIa proof of concept of RP-001 to treat solid tumors.
Biopharmas in Asia-Pacific raising money in public or private financings: Asahi Kasei, Biolife Solution, Bristol Myers Squibb, Charles River, Harbour Biomed, HBM Alpha, Iaso, Ivexsol, Kazia.
Australian biotech company Ferronova Ltd. has secured AU$11 million (US$7.7 million) to advance its nanoparticle platform to assist surgeons more accurately locate and remove malignant cells during treatment of gastrointestinal and brain tumors.
Bioelectronic medicine startup Setpoint Medical Corp. raised $80 million in a preferred stock financing co-led by new investors Norwest Venture Partners and Viking Global Investors. The company has also secured a line of credit for up to $65 million, bringing total access to capital to up to $145 million.
It’s been a tough year for raising biotech money, according to the new U.K. Biotech Financing Report, but there are bright spots in an otherwise dark period. What happened last year in the U.K. basically mirrored what happened with global financings as IPOs are significantly down while venture capital rounds stood strong.
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