With a newly raised $60 million series B financing, Tarsus Pharmaceuticals Inc. plans to start a phase IIb/III trial of its lead product, TP-03, for treating demodex blepharitis, and to jumpstart two other clinical programs.
LONDON – Northsea Therapeutics BV has closed a $40 million series B, providing the means to complete the ongoing U.S. phase IIb trial of its lead product for treating nonalcoholic steatohepatitis (NASH) and to launch clinical trials of two more products.
Novome Biotechnologies Inc., a startup developing a hyperoxaluria therapy based on controlled colonization of the gut with engineered bacteria, has landed a $33 million series A financing and appointed former Achaogen Inc. chief Blake Wise as CEO.
An aspect of artificial intelligence (AI) that’s often misunderstood is its power, something Deep Genomics Inc.’s founder and CEO, Brendan Frey, does his best to clarify for collaborators and his employees. “One problem of AI is thinking of it as a magic black box that can solve any issue,” Frey told BioWorld soon after the company announced a $40 million series B financing. “If you take that approach, it won’t help.”
Despite a rough ride on the capital markets for much of the year, particularly in the second and third quarters, this did not prevent the biopharmaceutical sector from attracting a significant amount of capital. According to BioWorld, when the curtain closed on 2019, approximately $57.6 billion had been generated by global public and private companies.
LONDON – Novo Repair has made new investments of $12 million, bringing the total invested by the specialist anti-infectives venture capital fund since it was set up two years ago to plug the gap in the early stage pipeline to $48 million.
DUBLIN – Last year was yet another banner year for European biotechnology firms engaged in drug development. The sector took in $7.739 billion in equity funding in 2019, just edging past the previous high of $7.715 billion it reached in 2018. The second half of the year was a marked improvement on the first half, but that was linked to the timing of a couple of large-scale transactions.
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