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Finance Watch: A One-Time Treatment For Heart Disease? Verve Raises $58.5m To Give It A Try

 
• By Mandy Jackson

Private Company Edition: With academic muscle, Google cash and nanoparticles, and various CRISPR licenses, Verve will develop gene-editing therapies for coronary heart disease prevention. Also, Vividion raises an $82m series B and two Belgian companies bring in $77.8m in VC cash.

Finance Watch
Verve will use gene editing to prevent coronary heart disease.

Verve Therapeutics launched with $58.5m in series A venture capital, a high-profile CEO from academia and a big goal – what some might even call a biopharmaceutical holy grail – to prevent coronary heart disease by giving at-risk patients a single injection of a novel medicine.

Cambridge, MA-based Verve will develop gene-editing therapies that give patients genes associated with cardio-protective qualities based on the genetic discoveries of the company's co-founder and CEO, Sekar Kathiresan, and several other academics attached to the start-up

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• By Mandy Jackson

Restructuring Edition: Prime Medicine ended its sole clinical-stage program to prioritize preclinical and partnered programs, cutting 25% of its workforce to extend its cash runway. Meanwhile, earnings season brought workforce reductions at Kyverna, Allogene, Leap and others.

Affimed’s ASCO ‘Hail Mary’ As Survival Chances Slim

 
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The German biotech has been forced into insolvency and NASDAQ suspension.

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Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

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• By Dexter Jie Yan

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