Avectas Ltd., of Dublin, brought in a $20 million series C financing, ratcheting the total equity investment in the company to $40 million. Privately held Avectas, formed in 2012 as a spin-out from Ireland’s Maynooth University, said it plans to accelerate the clinical translation and commercial scale-up of its cell engineering technology and expand its staffing in Ireland.
HONG KONG – Chinese biopharmaceutical company Abbisko Therapeutics Co. Ltd., of Shanghai, defied turbulent stock markets amid the COVID-19 pandemic to snag $70 million in its latest round of financing.
Keros Therapeutics Inc. CEO Jasbir Seehra told BioWorld that he plans to use at his new company lessons learned as co-founder of Acceleron Pharma Inc., where work with receptors in the TGF-beta superfamily “taught me the potential of the biology and those molecules, but also the limitations” with regard to safety that need to be surmounted.
DUBLIN – Neotx Therapeutics Ltd. raised $45 million in a series C round to continue clinical development of an immuno-oncology agent that already has a long clinical history behind it. Its lead molecule, naptumomab estafenatox, is a fusion protein comprising an antibody fragment that recognizes the oncofetal antigen 5T4 and a bacterial “super-antigen” comprising a modified version of the Staphylococcal enterotoxin A.
Alx Oncology Inc. pulled down a $105 million series C equity financing to support the expansion into phase II trials with ALX-148, described as a next-generation CD47 myeloid checkpoint inhibitor, paired with other cancer therapeutics. ALX-148 uses a “dead” Fc domain that does not bind to macrophages, thus reducing cytopenia and other toxicities associated with the class.
BEIJING – Multinational antibody specialist Hifibio Therapeutics Inc. said it closed a $67 million series C financing round to advance its drug candidates for cancer and autoimmune disorders.
Some new investors pitched in to Recursion Pharmaceuticals Inc.'s $121 million series C financing, adding to the industry's vision of the importance of AI and machine learning.
Revolution Medicines Inc., a California-based company developing a small-molecule inhibitor of SHP2 in partnership with Sanofi SA and other programs targeting mutant forms of the key signaling protein RAS, has raised a $100 million series C equity financing led by Boxer Capital LLC, an investment firm funded by British businessman Joe Lewis' Tavistock Group, which has backed financings of companies including G1 Therapeutics Inc., Kura Oncology Inc. and, more recently, Encoded Therapeutics Inc.
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