Venture capital investors have not taken the summer off, at least not during the first few weeks of June, continuing to support mega-rounds of $100m or more for biopharmaceutical companies with novel therapeutics candidates and technology platforms, including a $255m series C round for the artificial intelligence-based drug discovery and development firm Insilico Medicine.
Finance Watch: Insilico Raises $255m To Take AI-Discovered Drugs Into The Clinic
Amplitude Closes CAD$200m ($162.3m) Precision Medicine Fund
Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.
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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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The Belgian firm banks nearly €77.7m to push its Charcot-Marie-Tooth to proof-of-concept.
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A new report from a domestic institute on South Korea’s biopharma M&A trends shows a pickup in activity, but that this remains relatively weak and small-scale. It calls for broader domestic government support to build expertise, drive innovation and globalization.
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Stakeholders are pleading for newly confirmed FDA Commissioner Martin Makary to stand up for the agency's high scientific standards and staff as he begins his term.
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Plus deals involving Relmada/Trigone, Alvotech/Xbrane, OPKO Health/Entera, iOncologi/TargImmune and more.
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With its exon 53-skipping candidate already showing promise in 24-week data, Wave now has 48-week data showing improvements in muscle health and functional outcomes.