Endeavor Biomedicines Inc.’s $101 million series B round will let the firm forge ahead with ENV-101 (taladegib), a small-molecule inhibitor of the PTCH1 receptor in the Hedgehog signaling pathway, for cancer and idiopathic pulmonary fibrosis (IPF), as well as ENV-201, described as a potentially best-in-class small-molecule inhibitor of ULK1/2 in KRAS-driven cancers.

The amount of money raised in January by biopharma companies has fallen 55% from the same month in 2021 and 31% from January of 2020, indicating less enthusiasm from investors and a potential slowdown in financings for 2022. In total, January of 2022 has recorded significantly less fundraising than each of the past two years, with $4.8 billion (79 transactions), well below 2021’s $10.79 billion (159 transactions) and down from 2020’s $6.95 billion (131 transactions).