Scripps Research Institute has evolved into a new model that moves scientific breakthroughs in its academic labs into preclinical and initial clinical studies that translate those findings into proof-of-concept for new drug candidates. That new model includes a novel way to fund that translational work that turns ideas into valuable assets worthy of biopharmaceutical company investment.
Finance Watch: Scripps Research Models A New Way To Fund Translation
Private Company Edition: Scripps Research has a new model for translating academic findings into drugs, including a novel fund for financing that work. Also, in venture capital deals, Oyster Point closes a $93m Series B round and Peloton raises a $150m Series E.
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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Supply chain disruption fears at the start of the COVID-19 pandemic caused drug over-ordering. Imminent tariffs on drugs may have had a similar effect on pharma sales in Q1 earnings season.
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Stock prices plummeted, particularly for vaccine makers and cell and gene therapy developers, after the US FDA’s top biologics overseer resigned over vaccine misinformation concerns.
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Seeking cell therapy approaches to cure type 1 diabetes, Vertex abandons a candidate encapsulated to avoid immune system detection but hopes to file another candidate for approval in 2026.