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Finance Watch: Obsidian’s $160.5m Financings Comes In A Flurry Of VC Mega-Rounds

 
• By Mandy Jackson

Private Company Edition: Three consecutive $100m-plus venture capital rounds include Obsidian’s series C, a $132m series B round for Alterome and Diagonal’s $128m launch. Also, The Medicines Company’s Clive Meanwell reportedly is heading up a well-founded obesity start-up.

Finance Watch Private Company
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April began with a flurry of new venture capital mega-rounds of $100m or more – a $160.5m series C round for Obsidian Therapeutics, Inc., a $132m series B for Alterome Therapeutics, Inc. and a $128m series A for Diagonal Therapeutics – all announced on 3 April.

The large VC financings come at a time when investors have been receptive to initial public offerings for clinical-stage biopharmaceutical companies, which are being snapped up by big pharma companies looking to refresh their drug development pipelines

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HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By Mandy Jackson

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

Finance Watch: Unity Lays Off All Employees As It Evaluates Alternatives

 
• By Mandy Jackson

Restructuring Edition: Unity unveiled more Phase IIb data for lead asset UBX1325 along with plans to shed its workforce while seeking a partner for it and other drugs. Also, Ono is consolidating US employees at one site, Entrada is cutting its workforce by 20% and other recent strategic shifts.

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