Degron Therapeutics Inc. closed a $40 million series A extension round that will see the company advance its molecular glue degraders targeting previously undruggable or insufficiently drugged proteins.
Sonomind SAS raised €20 million (US$23 million) in a series A funding round for its ultrasound-based neuromodulation technology for depression. The funds will be used for clinical trials of the non-invasive device, which uses a custom-made acoustic lens to precisely target deep regions within the brain to bring relief to patients suffering from treatment-resistant depression.
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. is paying $60 million up front for an option to secure exclusive rights to Aribio Co. Ltd.’s oral phase III-stage Alzheimer’s disease (AD) therapy, AR-1001. The option fee plus license agreement has potential to tally $4.7 billion for Aribio, marking the largest deal for an AD asset inked by a Korean biotech company.
