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Finance Watch: $50m Doubles Magenta's Funding To Improve Stem Cell Transplants

 
• By Mandy Jackson

In VC deals, Magenta raised $50m, licensed a Novartis asset and engaged an important partner. Seven public companies revealed financial transactions totaling $947.4m, including Achaogen's $20.5m from the Gates Foundation. Also, OncoMed, Regulus and Depomed provided restructuring updates.

Finance Watch

Magenta Therapeutics Inc. has doubled its money in less than six months to nearly $100m to fund the development of therapies that may improve the results of stem cell transplants and make the curative treatments a viable option for more patients.

Cambridge, Mass.-based Magenta closed a $50m Series B venture capital round in early May after it completed a $48.5m Series A round in mid-November. The latest VC round was announced alongside a license agreement giving the company rights to a clinical-stage program from Novartis AG (more details on that transaction and the compound can be found in Deal Watch)

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• By Dexter Jie Yan

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• By Mandy Jackson

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• By Andrew McConaghie

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Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
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Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: Trump’s executive order more rhetoric than action; industry grapples with Trump pricing plan; Hengrui set for this year’s biggest IPO; Sanofi’s exec’s advice to biotechs; and biotech deal return on investment falls.