With one program in the clinic and another not far behind, Generate Biomedicines Inc. raised $273 million in a series C financing to advance its generative biology platform. It is one of the largest venture capital (VC) rounds for a U.S. company in 2023. Funds will go toward advancing the Somerville, Mass.-based company’s 17 pipeline programs, including the filing of multiple IND applications in 2024.
Star Therapeutics Inc. brought on board six new investors in its oversubscribed $90 million series C round, raising the company’s total funding to more than $190 million since its founding in 2018 to advance in-house drug discovery efforts via formation of portfolio companies. Since emerging from stealth in early 2022, Star has launched two aptly named companies, Electra Therapeutics Inc. and Vega Therapeutics Inc., with plans to unveil additional ventures arising from its antibody discovery efforts.
Seoul, South Korea-headquartered Boryung Co. Ltd. grabbed headlines in 2022 with its strategic redesign to move beyond drug development, announcing that it would invest $10 million in Axiom Space Inc. for a 0.4% stake in the U.S. commercial space station developer. The investment ramped up over the course of a year, with Boryung pouring a total of $60 million into Axiom Space over two financing rounds for a 2.7% stake. Axiom is set to build the world’s first commercial space station.
Seoul, South Korea-headquartered Boryung Co. Ltd. grabbed headlines in 2022 with its strategic redesign to move beyond drug development, announcing that it would invest $10 million in Axiom Space Inc. for a 0.4% stake in the U.S. commercial space station developer. The investment ramped up over the course of a year, with Boryung pouring a total of $60 million into Axiom Space over two financing rounds for a 2.7% stake. Axiom is set to build the world’s first commercial space station.
Curvafix Inc. sealed a $39 million series C financing round to support availability of its device, which treats fragility fractures of the pelvis (FFP). MVM Partners led the round with support from Sectoral Asset Management and other returning investors. Sectoral Asset Management led the $10.7 million series B for the company in 2020. The company has raised more than $60 million to date.
Worg Pharmaceuticals (Zhejiang) Co. Ltd. raised ¥1.1 billion (US$152 million) in a series C round to develop its therapies for allergy and autoimmune diseases, as well as to expand into the global market.
Worg Pharmaceuticals (Zhejiang) Co. Ltd. raised ¥1.1 billion (US$152 million) in a series C round to develop its therapies for allergy and autoimmune diseases, as well as to expand into the global market.
Carthera SA raised €37.5 million (US$40 million) in a series B funding round that will allow the company to embark on the first pivotal trial of its Sonocloud technology. The Sonocloud-9 is the only implantable ultrasound device that can repeatedly open the blood-brain barrier and deliver effective treatment in patients with recurrent glioblastoma, Frédéric Sottilini, CEO of Carthera, told BioWorld.
Corwave SA raised €26 million (US$28 million) in the second close of its series C funding round taking the total amount to €61 million. The funds will go toward the industrial development of the company’s facilities as well as entry into clinical trials for its heart pump, the Corwave LVAD, which is based on its wave membrane biomimetic technology, inspired by the undulating movement of marine animals.
Cellusion Inc. raised ¥2.83 billion (US$21 million) in a series C round to progress its lead therapy, CLS-001, an iPS cell-derived therapy to treat bullous keratopathy.
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