Dxcover Ltd. raised $9.25 million (£7.5 million) in a series A fundraising round and received a grant of $2.7 million (£2.2 million) from the European Innovation Council to support development of the company’s liquid biopsy platform for the detection of multiple early-stage cancers. Existing investors Eos Advisory LLP, Mercia Asset Management plc, Scottish Enterprise, University of Strathclyde, SIS Ventures and Norcliffe Capital led the round, which was also joined by Mark Banforth of Thairm Bio.
Starting out the year slow, biopharma financings are about 22% below where they were at the end of January last year, and they are well behind the first month of the previous two years as well, suggesting company executives may need to continue to prioritize costly programs as resources are depleted – at least for the near future.
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.
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