As it waits on initial data from its two lead programs, in sensorineural hearing loss and multiple sclerosis, Pipeline Therapeutics Inc. raised $80 million in a series C crossover round to progress its pipeline of small-molecule drugs for neuroregeneration and to position it for a potential IPO.
Ensoma Inc., a gene therapy startup working to drastically simplify the production and delivery of genomic medicines, announced itself Feb. 11 with a $70 million series A financing plus a strategic collaboration with Takeda Pharmaceutical Co. Ltd., which licensed vectors from the company for up to five rare disease targets in a deal that could deliver as much as $1.25 billion in potential payouts. Ensoma's co-founder and seed investor, 5AM Ventures, led the financing. Takeda took a $10 million equity stake as part of the round.
DUBLIN – Spybiotech Ltd. raised $32.5 million to move into clinical trials its first in-house vaccine program based on its Spycatcher/Spytag protein conjugation technology. The company is gearing up to start a phase I trial of a vaccine directed against cytomegalovirus (CMV) early next year.
DUBLIN – After a COVID-19-induced delay that set it back most of last year, Interna Technologies BV has moved its first microRNA-based drug development program into the clinic and has also unveiled €18.5 million (US$22.4 million) in a series B funding round, which it completed in two stages.
Chinese cancer and autoimmune specialist Innocare Pharma Ltd. raised HK$3.04 billion (US$392 million) in private placements with two Hillhouse Capital subsidiaries and Vivo Opportunity Fund to advance its pipeline, especially its core asset, the BTK inhibitor orelabrutinib.
Biopharmas raising money in public or private financings, including: Argenx, Artelo, Decibel, Equillium, Gemini, Neximmune, Ocugen, Pan Cancer, Tonix, Xortx.
The week finished with flurry of biotech IPOs, seven of them, a record number in a single day, according to BioWorld stats. Last year was a record year for IPOs as 106 new offerings were completed and raised $22.5 billion, more than double the previous record of $10.7 billion set in 2018. The seven companies that priced Feb. 5 are anticipating total gross proceeds of about $1.06 billion.
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