Serial entrepreneur Michael Gilman has taken the helm of another start-up; after selling Padlock to Bristol-Myers and Stromedix to Biogen, his new company Arrakis has raised a $38m Series A round with big biopharma backing.
Michael Gilman didn't have much time to enjoy "retirement" after Bristol-Myers Squibb Co. acquired his last company Padlock Therapeutics Inc. for up to $600m. Within months he was immersed in multiple new opportunities, the first of which, Arrakis Therapeutics, has closed a $38m Series A venture capital round.
The Bristol-Myers acquisition of Padlock was announced in March and by April, during his last week at BMS, Gilman heard...
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Pharma company financial guidance emerged largely unscathed from a first quarter punctured by a weakening US dollar and threats of import tariffs on drugs. With other pressures either already evident or on the horizon, guidance revisions may be unavoidable.
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