California Alzheimer's startup TrueBinding raises more than $50M, lays off workers twice in June
TrueBinding, a California startup addressing Alzheimer’s from a different angle than most other biotechs, has secured more than $50 million in additional capital. But it’s also gone through two rounds of layoffs in recent weeks, according to LinkedIn posts.
The biotech sent in paperwork on a $57.7 million raise this week, but the SEC filing outlines an originally targeted $78 million round. The company brought in 11 investors for the offering, which kicked off in March.
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