Dianthus Therapeutics Inc. has, appropriately, flowered in springtime. The Waltham, Mass.-based company emerged from stealth with $100 million in series A funding and lofty ambitions to rewrite the rules of targeting the complement system with a pipeline of antibodies that bring new levels of selectivity to an area of innate immunity that has proved difficult to target.
Switzerland’s biotechnology sector maintained its strong investment performance in 2021. The final tally for the year came to CHF3.33 billion (US$3.4 billion), which is almost equivalent to its record-breaking total of CHF3.4 billion for 2020.
Health care private equity investor Patient Square Capital has launched Enavate Sciences, a new portfolio company with an initial capital commitment of $300 million devoted to "enabling innovation through both capital and company-building experience," CEO Jim Boylan told BioWorld. The firm, which plans to invest in both therapeutics startups and enabling technologies, plans to raise $200 million to $300 million more in 2022.
Tubulis GmbH has added considerable momentum to its effort to build a pipeline of novel antibody-drug conjugates (ADCs) by closing a €60 million (US$63.2 million) series B round. CEO and co-founder Dominik Schumacher told BioWorld the cash would enable the Munich-based firm to generate clinical proof of concept, build a clinical pipeline and continue development of its platform technologies.
As many biopharmas rethink plans to go public on less-than-welcoming U.S. markets, Hillevax Inc. forged ahead, pricing an upsized IPO April 28, offering 11.8 million shares at $17 apiece, the midpoint of its previously proposed range, for gross proceeds of about $200 million. That’s the highest amount raised in a U.S. IPO so far in 2022, which saw only nine companies go public on Nasdaq during the first quarter.
Biopharmas raising money in public or private financings, including: Abeona, Avivagen, Bausch + Lomb, Breakthrough Properties, Creative Medical Technology, Nkarta.
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