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Venture Funding Deals: Gotham Raises $54m To Advance Epitranscriptomics

 
• By Deanna Kamienski, Beth Allan, and Maureen Riordan

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging biopharmaceutical companies that have received venture funding. This month’s column covers deals announced September and October 2018.

Venture Funding Reg column image

Launched with small molecules licensed from Teva Pharmaceutical Industries Ltd., 89bio concurrently raised $60m through its Series A round. Founding investors OrbiMed Israel and OrbiMed US led the round and were joined by Longitude Capital, RA Capital Management, and Pontifax. (Oct.)

The company’s lead candidate BIO89100 (formerly TEV47948) is a fibroblast growth factor 21 (FGF21) analog in Phase I for nonalcoholic steatohepatitis (NASH) that was designed using glycopeglyation technology to prolong half-life and enable extended dosing. 89bio is also working on an undisclosed preclinical project that could treat NASH and other related disorders. The company is headed by former Avanir Pharmaceuticals Inc

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