SK Biopharmaceuticals Co. Ltd. has launched a central nervous system-focused biotech company called Ignis Therapeutics Ltd. with a $180 million series A round led by 6 Dimensions Capital L.P. The financing of the new Shanghai-based company represents the largest series A investment in China’s biopharma industry in 2021, according to the two founding companies. KB Investment Co. Ltd, WTT investment Ltd., HBM Healthcare Investments AG and Goldman Sachs Group Inc. also participated in the round.
Acelyrin Inc. closed a $250 million series B round and, at the same time, unveiled a licensing deal with Affibody AB, involving an interleukin-17A (IL-17A) inhibitor, izokibep, which it is now testing in a pivotal trial in uveitis. Solna, Sweden-based Affibody is getting $25 million up front and could earn up to $280 million more in regulatory and sales-based milestones, as well as tiered royalties, ranging from high single digits to low double digits in percentage terms.
Ankyra Therapeutics Inc., a company developing new cytokine immunotherapies to boost localized antitumor immune responses, closed a $45 million series B financing. Proceeds from the round will be used to advance the Boston-based company's lead molecule, ANK-101, through IND-enabling studies and into phase I trials starting at the beginning of 2023, as well as to advance additional cytokine programs, it said.
Recludix Pharma Inc. launched with a $60 million series A round to target Src homology 2 (SH2) domains, and the new money will get the San Diego-based firm to reach the IND-enabling stage, CEO Nancy Whiting told BioWorld.
LONDON – Cancer immunotherapy specialist Valo Therapeutics Oy has raised €11 million (US$12.6 million) in an oversubscribed round that will fund the final preparations to move the lead program into the clinic at the start of 2022, and to prepare for an IPO later next year. The phase I will be the first test in humans of Valo’s Pepticrad (peptide-coated conditionally replicating adenovirus technology), which combines two different approaches for which there is there is separate clinical proof: oncolytic adenoviruses and peptide cancer vaccines.
PERTH, Australia – Australia’s Medical Research Future Fund is pumping AU$40 million (US$29 million) into a national biotech incubator program called CUREator to fund early stage novel therapeutics and preclinical medical research.
Vaxxinity Inc. priced its IPO below the targeted range, selling 6 million shares (NASDAQ:VAXX) at $13 each for proceeds of $78 million, but came out of the gate impressively, closing at $16.55, up $3.55, or 27%, after reaching $22.77 during the day.
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