Surge Therapeutics Inc. landed $26 million in funding through a series A fundraising round to accelerate development of its intraoperative immunotherapy hydrogel.
Mablink Bioscience SAS raised €31 million (US$30.3 million) in a series A funding round and set its sights on a phase I trial of its lead next-generation antibody-drug conjugate (ADC), MBK-103, which is in development for a range of solid tumor indications. Sofinnova Partners and Mérieux Equity Partners co-led the round.
Ascidian Therapeutics Inc. secured $50 million in series A funding from its founder Apple Tree Partners to take a therapy based on its RNA exon editing technology into a first-in-human trial in ABCA4 retinopathy and to advance additional programs in neuromuscular, neurological, and rare disease indications.
Sibylla Biotech Srl raised €23 million (US$22.9 million) in series A funding to progress its two lead programs in targeted protein degradation, to broaden its pipeline, and to enhance its computationally intensive discovery platform. The company is expanding the druggable proteome in a highly original fashion. It applies mathematical techniques originally developed in theoretical physics to simulating the intermediate folding states of target proteins that have no obvious drug-binding pockets. These may well have transient structures that a small molecule can bind. So instead of drugging the native, biologically active molecule, it aims to develop small-molecule drugs that lock them into an intermediate state. They are then eliminated by the usual protein degradation pathways that operate within cells.
Pheon Therapeutics Ltd. is working to bring next-generation antibody-drug conjugate (ADC) payloads and enhanced tolerability into the clinic after closing a $68 million series A.
Jilin Huisheng Biopharmaceutical Co. Ltd., a non-wholly owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd., has raised ¥500 million (US$70 million) in a series A round. Huisheng, which has developed a pipeline of programs addressing both diabetes and its complications, plans to use the new funds to speed up its clinical trials and purchase manufacturing equipment, according to Che Fengsheng, executive director and chairman of Sihuan Pharma.
Startup Avelos Therapeutics Inc. raised $8 million in series A funding that will launch the company’s biomarker-driven cancer therapy pipeline using its synthetic lethality platform. Participating in the series A funding were SV Investment, UTC Investment, Quad Investment Management, Timepolio Asset Management, Mirae Asset Venture Investment and Mirae Asset Capital.
E-nitiate Biopharmaceuticals Co. Ltd. has raised ¥100 million (US$14.4 million) in a series A round to speed up the clinical trials of its lead assets, QY-201 and QY-101, and expand the pipeline. “Our strategy is to focus on the ‘blue ocean’ of the dermatosis market,” said Shi Jun, chief medical officer at E-nitiate Biopharma. “The first step is to enter China’s autoimmune skin diseases market.”
Photys Therapeutics Inc. raised a $75 million series A financing to develop phosphorylation-inducing chimeric small-molecule medicines to fix dysfunctional proteins. Photys, of Cambridge, Mass., was founded by the Longwood Fund and Amit Choudhary of Brigham and Women’s Hospital and the Broad Institute of MIT and Harvard University.
3T Biosciences Inc. raised $40 million in a series A funding round to take forward a platform for identifying novel T-cell receptors (TCR) and their targets, which is based on the work of scientific co-founder K. Christopher Garcia of Stanford University.
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