Latest from Mandy Jackson
Private Company Edition: Atlas Venture closed its $450m Fund XIV after some notable exits. Also, Nuvig’s $161m series B round more than triples its $47m series A from 2022, while Maze’s $115m series D fell below its prior $190m round and Antag raised an €80m ($84.7m) series A.
Deal Snapshot: Genentech will pay $40m up front and in the near term, with milestone fees of up to $900m-plus, to use COUR’s tolerogenic nanoparticle treatments in an undisclosed autoimmune disease.
Public Company Edition: Biomedtracker data show the amount of money raised in both PIPEs and follow-on offerings surging in 2024. Olema and Cidara raised $250m and $105m, respectively, in recent private placements, while Spyre and Replimune grossed $200m and $140m in FOPOs.
Restructuring Edition: Kronos is laying off most of its employees as it considers strategic options, including a potential sale of its assets. Also, Agenus is restructuring and other companies revealed job cuts in Q3 earnings reports, including Sensei, AN2, NextCure and Aurinia.
Much anticipated Phase II results in obesity for Amgen’s GLP-1 agonist/GIP antagonist showed up to 20% weight loss, but without detailed data the drug’s competitiveness is hard to ascertain.
After years of controversy, simufilam did not achieve statistical significance on any endpoints in ReThink-ALZ, so the company ended ReFocus-ALZ and its long-term extension study.