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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