Depixus Ltd. has raised $35.4 million in an oversubscribed series A financing to push commercialization of its Magna multiomics system. The series A round was co-led by Lansdowne Partners and PSIM Fund, with participation from Casdin Capital and existing investor Arix Bioscience. The funds bring the company's total equity and grant funding to more than $47 million.
Anheart Therapeutics Co. Ltd. raised $61 million in a series B round to support the development of a slate of precision oncology pipeline in-licensed by the company from Daiichi Sankyo Co. Ltd. Toward that end, funds will support phase II testing of the Hangzhou, China-based firm’s lead asset, the ROS1 inhibitor taletrectinib, for the potential treatment of non-small-cell lung cancer.
There are many companies using artificial intelligence to aid drug development, with a seemingly overwhelming number of “world firsts” being claimed in this quickly evolving field. After signing a three-year neurology drug development deal with Eli Lilly and Co. worth up to $706 million in July, Verge Genomics is also making waves and just raised $98 million in series B financing to support development of its own AI drug development technology.
DUBLIN – Anaveon AG raised CHF110 million (US$119.5 million) in a series B round to accelerate development of its interleukin-2 (IL-2) agonist ANV-419, which is currently undergoing a phase I/II trial. “We are putting our compound into multiple clinical trials and multiple indications in parallel,” CEO and co-founder Andreas Katopodis told BioWorld.
DUBLIN – Fans of “His Dark Materials” and the “Book of Dust,” Philip Pullman’s series of fantasy novels set in Oxford, U.K. and more remote corners of the earth, are familiar with alethiometers. In the hands of a highly select number of characters, these complex, compass-like devices can interrogate a mysterious substance called “dust” – an elementary particle associated with consciousness – and provide trusted answers to the most crucial questions.
Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98.
Mythic Therapeutics Inc. officially launched with an oversubscribed series B round that garnered $103 million to design smarter, safer antibody-drug conjugates (ADCs) by way of a technology originated by the company and dubbed Fatecontrol. Co-founder and CEO Alex Nichols said that, after about 40 years’ worth of development – and despite fairly recent wins – ADCs have been hampered by “toxicity and poor therapeutic index [that] have stopped them from reaching what we would consider to be their full potential.”
At more than $48.2 billion raised through mid-December, the med-tech industry has recorded another stellar financing year – one that is 19% below 2020, but above every other year to date.
With the U.S. Securities and Exchange Commission (SEC) and Cyberspace Administration of China (CAC) imposing stricter regulatory requirements on listing companies, more Chinese companies are likely to decide to list on stock exchanges closer to home.
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