Cerecin Inc. has successfully closed the first tranche of a series IIB financing with investors from South Korea, with SK Securities Co. Ltd. and KNT Investment LLC leading the round.
Cerecin Inc. has successfully closed the first tranche of a series IIB financing with investors from South Korea, with SK Securities Co. Ltd. and KNT Investment LLC leading the round. Proceeds from the financing, of undisclosed value, will help the company advance clinical studies of its CER-0001 (tricaprilin) in migraine and infantile spasm.
Galvanize Therapeutics Inc. scooped up $100 million in a series B funding round aimed at advancing its pulsed electric field (PEF) energy platform. Completion of the financing coincided with the merger of Galvanize with two other med-tech startups built around the same core intellectual property portfolio: Gala Therapeutics Inc. and Galaxy Medical Inc.
Ocular gene therapy firm Sparingvision SA raised €75 million (US$75 million) in a series B round to fund its transition to clinical development. The company is about to move its lead program, the mutation-agnostic gene therapy SPVN-06, into a phase I trial in retinitis pigmentosa (RP). “We are in the middle of the regulatory submission process,” CEO Stéphane Boissel told BioWorld.
Melbourne-based Occurx Pty Ltd. announced a AU$16 million (US$11 million) series B round that will progress lead candidate OCX-063 to phase II trials in chronic kidney disease. The capital raise was jointly led by Brandon Biocatalyst and Uniseed and includes a AU$1.5 million grant from Australian biomedical incubator Cureator.
Arsenal Biosciences Inc. closed on an oversubscribed $220 million series B financing so it could continue developing its programmable cell therapy research programs and its candidates for treating solid tumor malignancies. Arsenal’s lead program is AB-1015 for treating ovarian cancer.
Australian radiopharmaceutical company Advancell Co. Ltd. closed an AU$18 million (US$12.4 million) series B round that will take its lead targeted alpha-emitting radiotherapy, ADVC-001, for metastatic prostate cancer to the clinic by the end of 2022.
Beijing Longwood Valley Medical Technology Co. Ltd. (also known as Changmugu Medical) recently completed a series B financing of ¥540 million ($79.7 million) to advance its artificial intelligence (AI) medical products. It also signed a strategic partnership with Johnson & Johnson Medical China Ltd.
Orna Therapeutics Inc., which is pioneering a novel circular RNA protein expression technology in several therapeutic areas, has achieved lift-off. The Cambridge, Mass.-based company has closed a broadly based alliance in infectious disease and oncology with Merck & Co. Inc., under which it is getting $150 million up front and up to $3.5 billion in development, regulatory and sales-based milestones. In addition, Merck, of Rahway, N.J., is investing another $100 million in Orna’s equity, as part of its $221 million series B round, which the company also disclosed on Aug. 16.
Oricell Therapeutics Co. Ltd. has raised $120 million in a series B financing to support development of its cell therapy pipeline and technology platform, as well as the construction of a manufacturing plant. The round was jointly led by Qiming Venture Partners and Quan Capital Management LLC.
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