Stealthy start-up Receptor Life Sciences Inc. has licensed MannKind Corp.'s Technosphere dry powder delivery platform to develop inhaled formulations of undisclosed Receptor candidates. [See Deal] The companies will work together on clinical development, with MannKind in charge of initial formulation studies and Receptor handling development costs as well as manufacturing and commercialization. MannKind, which is strapped for cash following the demise of its SanofiAfrezza marketing deal, could receive up to $102.25 million in development and commercialization milestones, plus royalties.
Grail Bio raised a $100 million-plus Series A round from Arch Venture Partners, Bill Gates, Bezos Expeditions, Sutter Hill Ventures and Illumina Inc., which is the majority owner of its spin-out. [See Deal] Grail will develop technology to screen asymptomatic patients for cancer through the detection of circulating tumor DNA
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