Zephyrm Biotechnologies Co. Ltd. raised ¥200 million (US$29 million) in a series B financing to support phase I and II trials of the company’s human pluripotent stem cell candidates to treat lung diseases, degenerative joint diseases such as osteoarthritis, CNS diseases, inherited retinal degenerations and retinal degenerative diseases. The money will also be used for the construction of its technology platform and cell manufacturing bases.
Neuromod Devices Ltd. will use the €30 million (US$ 32.78 million) financing it recently raised to launch its tinnitus treatment device, Lenire, in the U.S. where there are an estimated 50 million Americans suffering from tinnitus, CEO, Ross O’Neill, told BioWorld. “To get this financing closed is very exciting as we go into the U.S. market which is the biggest hearing market in the world,” he added.
Torl Biotherapeutics LLC has raised $158 million in a series B round as it seeks to nudge its anti-Claudin-6 antibody-drug conjugate candidates, TORL-123 and TORL-2307, beyond phase I trials for the treatment of ovarian and gastric cancers, respectively. Claudin-6, or CLDN6, is a molecule that forms tight junctions around cells. It is highly expressed in a range of solid tumor types, so is a popular target for drug development.
Flare Therapeutics Inc. has announced a US$123 million series B financing to support its work targeting novel transcription factors for cancer and other diseases.
Flare Therapeutics Inc. raised $123 million in an oversubscribed series B round to take its lead compound, FX-909, a potentially first-in-class peroxisome proliferator-activated receptor gamma inhibitor, into clinical trials in patients with advanced urothelial cancer and to advance additional pipeline candidates acting on other transcription factor targets with genetically validated links to disease biology.
Quralis Inc. raised $88 million in series B round to fund clinical development of its two lead programs in amyotrophic lateral sclerosis (ALS) and to take forward earlier-stage pipeline projects in ALS and frontotemporal dementia.
Noema Pharma AG raised CHF103 million (US$110.3 million) in a series B round to continue moving forward its bulging pipeline of clinical stage assets in development for multiple central nervous system disorders. The Basel, Switzerland-based company is now funded through early 2025, by which time it will have at least some clinical data that will help it to determine its next steps.
Oricell Therapeutics Co. Ltd. raised $45 million in a series B1 round to expand in the U.S. market. RTW Investments LP and the Qatar Investment Authority led the financing, which followed the completion of a $125 million series B round in July 2022. Shanghai-based Oricell plans to use the new funds to support the clinical development of its lead candidates, including Oricar-017, in the U.S.
Oricell Therapeutics Co. Ltd. raised $45 million in a series B1 round to expand in the U.S. market. RTW Investments LP and the Qatar Investment Authority led the financing, which followed the completion of a $125 million series B round in July 2022. Shanghai-based Oricell plans to use the new funds to support the clinical development of its lead candidates, including Oricar-017, in the U.S.
Chroma Medicine Inc. closed a $135 million series B round as momentum builds at one of the early movers in the emerging field of epigenetic editing. It’s little more a year since Cambridge, Mass.-based Chroma emerged from stealth by disclosing a $125 million series A round and a stellar line-up of company founders. “It’s not all that long ago, but we have made a huge amount of progress,” CEO Catherine Stehman-Breen told BioWorld.
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