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Finance Watch: Clinical-Stage Autoimmune Start-Ups Garner Big Investments

Attovia Raises $105m After Zenas Brings In $200m

 
• By Mandy Jackson

Private Company Edition: Attovia will advance two anti-IL-31 programs with its $105m in series B funding, while ImmuNext secured $575m in a Royalty Pharma deal for its Sanofi-partnered drug. Also, Bluejay and Aardvark raised $182m and $85m, respectively, in series C rounds. 

Finance Watch Private Company
• Source: Shutterstock

With rising interest in inflammation and immunology – likely in response to large deals in the I&I space as much as unmet needs in autoimmune diseases – venture capital investors have put big money into start-ups with drug candidates for indications such as systemic lupus erythematosus (SLE), multiple sclerosis and atopic dermatitis, including Attovia Therapeutics, which revealed a $105m series B round on 9 May.

Also, Royalty Pharma plc placed a big bet on privately held ImmuNext, Inc.’s frexalimab, an anti-CD40 ligand antibody...

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More from Financing

Finance Watch: Did Mid-Summer Usher In A Mega-Round Comeback?

 
• By Mandy Jackson

Private Company Edition: Hatteras Venture Partners now has more than $900m under management. Also, in recent $100m-plus VC rounds, Strand Therapeutics raised a $153m series A, ARTBIO revealed a $132m series B and Minghui Pharmaceutical secured a $131m pre-IPO round.

Sarepta Sells Arrowhead Shares To Raise Cash, Pay Arrowhead

 
• By Mandy Jackson

Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.

Finance Watch: OrbiMed’s New $1.86bn Fund Offers Financial Alternatives In Tough Market

 
• By Mandy Jackson

Public Company Edition: OrbiMed partners Carter Neild and Matthew Rizzo spoke with Scrip about the firm’s fifth royalty and credit fund. Also, Ligand sold $400m worth of notes, BridgeBio’s oncology spinout went public via SPAC merger and raised $261m and Assembly raised $175m.

BeBetter, Trinomab Advance IPOs On China’s STAR Market In Firsts Since Policy Easing

 
• By Dexter Jie Yan

BeBetter becomes first unprofitable innovative drug maker to have application for an IPO on Shanghai's STAR Market cleared by China’s top securities regulator, while Trinomab becomes first among peers to have IPO filing accepted.

More from Business

Sarepta Sells Arrowhead Shares To Raise Cash, Pay Arrowhead

 
• By Mandy Jackson

Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.

Deal Watch: Lilly Teams With GPCR-Focused Superluminal In Cardiometabolic Disease

 
• By Joseph Haas

Plus deals involving Basilea/Venatorx, CorMedix/Melinta, SERB/Y-mAbs, XOMA/Lava, XOMA/Hillevax, MaxCyte/Adicet/Anocca and Bausch Health/DURECT.

Schrödinger Drops CDC7 Inhibitor SGR-2921 After Two Patient Deaths

 
• By Alaric DeArment

The drug is one of multiple candidates in the class that have been pulled from development, though it is not the company’s lead candidate.