AltruBio Inc. took a big step up from its $63m series A venture capital round in 2021 when it announced a series B round totaling up to $225m on 21 May, which will fund ongoing and planned Phase IIa and IIb clinical trials of its immune checkpoint enhancer ALTB-268 in ulcerative colitis. The financing is second only to Uniquity Bio’s recent launch with $300m in initial funding in terms of recent VC mega-rounds of $100m or more.
Finance Watch: AltruBio, Pheon Raise Venture Capital Mega-Rounds
Immunology, ADC Start-Ups Garner Big Bucks
Private Company Edition: AltruBio raised up to $225m and Pheon garnered $120m in series B financings, while Lycia brought in $106.6m in series C cash. Also, Sands Capital closed its third life science fund, totaling $555m, and NewVale Capital debuted with $167m for life science services.
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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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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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Senior executives from AstraZeneca, BMS, Novo Nordisk, Takeda and Regeneron outline how big pharma's global capability centers (GCCs) in India are evolving beyond cost efficiency, focusing on innovation, “agile experimentation” and new technology including GenAI, virtual & augmented reality, with some positioned as COEs. Will Indian multinationals use the GCC approach?