HONG KONG – GI Innovation Inc., a microbiome combination drug developer based in Seoul, South Korea, has recently issued fully paid convertible preferred stock (CPS) worth KRW37.5 billion (US$31 million) for a series B investment.

HONG KONG – South Korean biotech venture Spark Biopharma Inc., based in Seoul, has secured KRW25 billion (US$21 million) in series B funding to support new R&D efforts. The company plans to accelerate its development of small-molecule compound-based immuno-oncology therapeutics and treatments for nonalcoholic fatty liver disease (NAFLD).

DUBLIN – Versantis AG raised CHF16 million (US$16.1 million) in a series B round to progress clinical trials of a liposomal-based fluid in development for eliminating ammonia and other toxic metabolites from the circulation of patients in acute stages of liver failure who are undergoing peritoneal dialysis.

Bayer AG led a $40 million series B financing for Informed Data Systems Inc. (IDS) and its One Drop diabetes management platform. The pharma giant also inked a licensing agreement to leverage IDS, which does business as One Drop, in therapeutic areas beyond diabetes and secured a seat on One Drop's board of directors.

Royal Oak, Mich.-based liquid biopsy startup Oncocell MDx Inc. reeled in $22.2 million in a series B financing led by Savitr Capital, with participation from existing investors. The company, which has raised a total of $30 million to date, plans to use the proceeds to support ongoing development of its pan-disease immunogenomics platform and commercialization of its novel noninvasive blood-based tests.

Royal Oak, Mich.-based liquid biopsy startup Oncocell MDx Inc. reeled in $22.2 million in a series B financing led by Savitr Capital, with participation from existing investors. The company, which has raised a total of $30 million to date, plans to use the proceeds to support ongoing development of its pan-disease immunogenomics platform and commercialization of its novel noninvasive blood-based tests.

Anokion SA, a Swiss biotech focused on autoimmune disease, is bringing in-house a startup it spun out for a development alliance with Astellas Pharma Inc. The acquisition of Kanyos Bio Inc., announced alongside news it closed a $40 million series B financing, puts front and center KAN-101, a preclinical celiac disease drug poised for an IND filing by year-end. Together with Anokion's lead candidate, ANK-780, an antigen-specific treatment for multiple sclerosis (MS), the company anticipates having two programs in clinical development within the next 12 months.

DUBLIN – Inotrem SA raised €39 million (US$42.9 million) in a series B round to finance a phase IIb trial of its first-in-class septic shock drug candidate, nangibotide, along with a candidate biomarker that may enable it to select patients most likely to benefit from the therapy.