Neuroelectrics Inc. garnered $17.5 million in a series A fundraising round led by the Morningside Group of Hong Kong. The Cambridge, Mass. and Barcelona-based brain stimulation company plans to use the funds primarily to advance its pivotal trial of the Starstim system in refractory focal epilepsy and its at-home feasibility study in refractory major depressive disorder and related infrastructure, Neuroelectrics co-founder and CEO Ana Maiques told BioWorld. Supportive infrastructures for the trials include brain modeling, the platform for remote montage delivery, and clinical and regulatory resources.
Eikon Therapeutics Inc., a startup leveraging advanced optics and machine learning to track protein dynamics for drug discovery, has closed a $148 million series A financing. Led by a high-profile CEO, former Merck & Co. Inc. R&D chief Roger Perlmutter, and with the counsel of two Nobel prize winners, its team is working to "expand the druggable proteome by targeting protein dynamics directly."
LONDON – A year on from delivering positive phase IIb data, Oculis SA has raised $57 million in an oversubscribed series C, to take OCS-01, a topical nanoparticle formulation of dexamethasone, through two phase III trials.
Biopharmas raising money in public or private financings, including: Bridgene, Cocrystal, Corvus, Day One, Esker, Hepalink, Nervgen, Resverlogix, Summit Healthcare, Vaccitech, Valneva.
HONG KONG – As it advances into its first full year of commercialization in China, Zai Lab Ltd. raised $857.5 million through the sale of American depositary shares (ADS) and ordinary shares, exceeding its initial aim of $750 million.
HONG KONG – South Korea’s securities exchange operator, Korea Exchange Inc., has relaxed the procedure for tech companies, including biopharma firms, to list on its KOSDAQ board. Under the simplified listing standard, which came into effect on April 26, companies with a market capitalization of ₩500 billion (US$449.26 million) and above will now need to submit only one assessment, with a result of “A” or higher, from a professional evaluation agency.
Cross-border startup Adcentrx Therapeutics Inc., with operations in San Diego and soon in Shanghai, secured $50 million in a series A financing round led by CBC Group to establish its presence in the antibody-drug conjugate (ADC) space.
DUBLIN – Danish startup Cytoki Pharma ApS raised $45 million in a series A round to take forward an engineered, long-acting version of interleukin-22 (lipidated IL-22), for development in inflammatory bowel syndrome (IBD).
PARIS – Archos SA reported setting up a center of excellence in med-tech. They are working in close partnership with various SATTs – technology transfer acceleration offices, who finance innovative research lab projects in France. Their new division, Medical Devices Venture, is designed to help develop startups targeting the health care disciplines of the future that combine technology, machine learning and a platform for collaboration.
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