Financing is the fuel that drives growth in the biopharma sector, and participants at the BIO Asia-Taiwan Conference 2021 this week discussed different financing strategies for companies in the currently booming market.
Having created a profitable preclinical services business, Biocytogen Pharmaceuticals Co. Ltd. is now working to develop its own pipeline of antibody therapeutics, recently inking a partnership with China Resources Biopharmaceutical Co. Ltd. to develop drugs for oncology and immunology indications and raising “tens of millions of dollars” in a new financing round to support the development of its antibody drugs.
DUBLIN – Panakès Partners SGR SpA has raised €150 million (US$177 million) in a first close of its second fund and is looking to secure a final tally of €180 million by year-end. That would represent more than twice the size of its first fund of €80 million and reflects its move into therapeutics investing.
Rivus Pharmaceuticals Inc. has emerged from stealth and disclosed a $35 million series A round to fund development of its pipeline of “controlled metabolic accelerators,” or CMAs, for treating cardiometabolic diseases.
Amylyx Pharmaceuticals Inc.’s oversubscribed, $135 million series C financing led by Viking Global Investors will help lay the groundwork for commercializing in Canada and Europe, as well as for a second phase III study in the U.S. with lead candidate AMX-0035 for amyotrophic lateral sclerosis.
On the heels of enrolling the first patient in a pivotal trial of a ventricular restoration system to treat symptomatic heart failure patients in January, Ancora Heart Inc. closed $80 million in new financing on Monday. The startup company plans to use the new funding to speed up this pivotal trial in preparation for FDA approval of its Accucinch ventricular restoration system.