Today is Presidents Day, do you know which US presidents are printed on which dollar bills? On the eve of the holidays, many life sciences companies raise money for R&D, adding a ton of Benjamins (not the president) to their coffers.
The round includes companies emerging from stealth as well as clinical-stage biotech companies returning to investors for larger funding rounds. Here’s a look back at some of the fundraising activity from the past week.
- Electra Therapeutics is the first company founded by rare disease startup Star Therapeutics, closure $84 million in Series B funding to continue clinical development of antibodies against a rare autoimmune disease for which there is no FDA-approved treatment. Star Therapeutics has been backed by its own $100 million financingit was also disclosed last week.
- South San Francisco-based Walking Fish Therapeutics expands its Series A round to include $73 million. ‘Walking fish’ that engineer B cells into proteins The round closed with $50 million when the biotech launched last September.
- SpliceBio raises €50 million to develop gene therapy for rare eye disease Using technologies capable of delivering larger genetic payloads to target tissues. The Barcelona-based company said its Series A financing was the largest for a Spanish biotech company.
- London-based Centauri Therapeutics has launched a £24 million The Series A financing will be used to develop antibacterial drug candidates for refractory infections.
- memo therapy closure CHF 37 million in Series B financing. The Switzerland-based biotech plans to use the cash for a phase 2 test of an antibody to the BK virus, which poses an infection risk to transplant patients.
- Allergy and inflammation biotech Third Harmonic Bio emerges from stealth $105 million The Series B financing will continue the clinical development of an oral small molecule drug for the treatment of urticaria caused by the common cold, a rare autoimmune skin disease.
- kidney treatment improve $35 million in Series A financing to continue clinical development of the drug pipeline around acute kidney injury and chronic kidney disease.
- Denmark-based NMD Pharma shuts down 35 million euros Funded a mid-stage clinical trial of NMD670, a small molecule for the treatment of the neuromuscular disease myasthenia gravis.
- CalliopeA New York-based company developing therapies targeting the gut-brain axis shuts down a $236 million Series D financing to support new programs in type 2 diabetes, obesity and gastrointestinal barrier diseases.
- Another New York biotech company, ProJenX, roll out $5.1 million in seed funding for brain-penetrating drugs to treat amyotrophic lateral sclerosis and other brain diseases.
- Synthego, a company that develops and sells products used in CRISPR research by pharmaceutical and biotech companies, closed $200 million Series E financing led by Perceptive Advisors. The Redwood City, Calif.-based company said it will use the funding to expand the capabilities and capabilities of both platform technologies for R&D applications.
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