Aro raises $41M; Candel’s layoffs; Lilly to expand its accelerator to San Diego
Plus, news about Erasca, Exonate, AnaptysBio, Flagship and AstraZeneca:
Aro Biotherapeutics raises $41.5M: The Philadelphia genetic medicines startup said Tuesday that Cowen Healthcare Investments led the Series B. Existing investors also took part, including JNJ Innovation, Northpond Ventures, HealthCap and BVF Partners. The financing, however, came in well below the $100 million the biotech had targeted, per an SEC filing from December. Aro began its first clinical trial last month, testing ABX1100 in Pompe disease, and it expects to have initial data next year. — Kyle LaHucik
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