AI-enabled drug discovery company Insilico Medicine Ltd. has raised $60 million in a series D round to support expansion of its pipeline. The Hong Kong and New York-based company will use the proceeds to support clinical testing of its lead asset, a potential treatment for idiopathic pulmonary fibrosis (IPF), as well as the advancement of its Pharma.AI platform.
Kallyope Inc., a company leveraging connections between the gut and brain to develop new medicines for diabetes, obesity and other diseases, has raised $236 million in series D financing to support its work. Readouts of early clinical data for its most advanced programs, phase I small molecules for metabolic disease and gut barrier conditions, will start to arrive later this year, company CEO and President Jay Galeota told BioWorld.
Proceeds from Vedanta Biosciences Inc.’s just closed $68 million series D financing will be used for a phase III study of the company’s lead candidate, VE-303, composed of eight clonal human commensal bacterial strains to give colonization resistance for treating Clostridioides difficile (C. diff) infection, and also for a phase II study of VE-202, made up of 16 clonal human commensal bacterial strains for treating inflammatory bowel disease.
Multinational antibody specialist Hifibio Therapeutics Inc. closed an oversubscribed $75 million series D financing round to move its anti-TNFR2 antibody HFB-200301 and the anti-OX-40 antibody HFB-301001 to phase I trials by the end of this year.
BEIJING – San Diego and Hangzhou, China-based biotech Denovo Biopharma LLC closed a series D financing round to raise nearly ¥300 million (US$46 million) on Dec. 8, just six months after its $83.5 million series C round. Denovo CFO Carrie Chen told BioWorld that the proceeds will be used to “upgrade the technology platform, advance the clinical programs, expand the team and license in new assets.”
RNAi therapeutics specialist Sirnaomics Inc. has wrapped up a $105 million series D financing that will support ongoing clinical development of its cancer and fibrotic disease programs plus work on early stage programs targeting metabolic disease and viral infections. But with both new and existing investors jumping in, the company is also preparing for something bigger: its next phase of growth, including a near-term IPO.
HONG KONG – Shanghai-headquartered Inventisbio Inc. brought in $147 million from a series D funding round to move its main products into phase II trials in the U.S. and China.
DUBLIN – Galecto Biotech Inc. raised $64 million in a series D funding round, which will enable the company to complete a phase IIb trial of its lead drug candidate, the inhaled galectin-3 inhibitor GB-0139, in idiopathic pulmonary fibrosis, and to move two other programs into phase II studies, in liver fibrosis and myelofibrosis, before year-end.
DUBLIN – Finch Therapeutics Inc. closed a $90 million series D round to take its oral microbiome therapy, CP-101, into late-stage clinical development and registration in chronic Clostridioides difficile infection and to move two additional programs, for chronic hepatitis B virus infection and autistic spectrum disorder, into the clinic.
Recursion Inc.’s combination of machine learning and artificial intelligence, coupled to its wet lab work, caught Bayer AG’s attention so solidly that its investment unit, Leaps by Bayer, led the charge on Recursion’s new and oversubscribed $239 million series D financing.