Palleon Pharmaceuticals Inc. CEO and founder Jim Broderick told BioWorld that the just-raised $100 million in series B money leaves the firm well positioned to push its lead oncology compound into the clinic next year, bolstered by a widely gathered team of experts – “almost a consortium” – in glycan mediation.
DUBLIN – Finch Therapeutics Inc. closed a $90 million series D round to take its oral microbiome therapy, CP-101, into late-stage clinical development and registration in chronic Clostridioides difficile infection and to move two additional programs, for chronic hepatitis B virus infection and autistic spectrum disorder, into the clinic.
DUBLIN – Versant Ventures, the founding investor of Crispr Therapeutics AG, is teaming up with one of the academic founders of that company, Stanford University’s Matt Porteus, to start a new gene editing firm, Graphite Bio Inc., which is focused on targeted integration of DNA to achieve a therapeutic benefit.
Advanced diagnostics startup Coremap Inc., which is developing a technology capable of identifying the drivers of atrial fibrillation (AF), scooped up $10.5 million in a series A financing led by Qure Ventures. The funds will be used to accelerate product development and future regulatory submissions. Founded in 2016, the Burlington, Vt.-based company has raised nearly $12 million to date.
TORONTO – “With COVID-19 it’s not been an easy time to raise capital.” In virtually the same breath Joshua Liu, CEO of Toronto-based health-tech startup SeamlessMD Inc. credited the pandemic with nudging investors to spend CA$4 million (US$3 million) to grow his company’s cloud-based patient engagement app, boosting a library of digital plans for surgery, cancer and chronic care and adding machine learning-based risk prediction to remote patient monitoring.
Favorable conditions in China encouraged biotech veterans Jerry Wang, Bing Yan and Lihua Zheng to co-found Anheart Therapeutics Co. Ltd. in November 2018 to focus on oncology. On Monday, the Chinese startup in-licensed a mIDH-1 inhibitor and an AXL inhibitor from Daiichi Sankyo Co. Ltd. to expand its pipeline, less than two years after it obtained the global rights of its first asset, AB-106 (taletrectinib), from the Japanese firm to establish its footing.
Raising more money in the first three quarters of 2020 than in each of the last three full years, the med-tech industry is mirroring that of the biopharma industry, showing an unprecedented amount of financing during what is arguably the most economically disruptive pandemic in a lifetime.
RSS
