Financing channel feed

The Avextra team (L-R): co-CEO Bernhard Babel, COO Neil Smith, co-CEO David Reckeweg-Lecompte and CSO Marla Luther

Ger­man cannabis med­i­cine man­u­fac­tur­er lands $17M+ in fund­ing

The German-based cannabis medicine producer Avextra has reeled in some new funds while also looking to expand its reach within Europe.

Avextra announced Wednesday that it secured a total of €17 million ($17.9 million) in a capital raise. The company said in a release that the cash will be going toward several avenues of its business, which include expanding the sales of its current products in new markets in Europe and boosting the development of new cannabis-based medicines and products. Avextra also plans to expand its research and development work and grow its presence in Portugal, where the company has a cultivation facility.

Mediar Therapeutics CEO Rahul Ballal (L) and CSO Paul Yaworsky

Five phar­mas back $85M Se­ries A for Me­di­ar's fi­bro­sis-mod­u­lat­ing an­ti­bod­ies

Mediar Therapeutics nabbed $85 million to get in the clinic next year with its first antibody meant to modulate fibrosis, hence the biotech’s name (in the form of Spanish).

The Cambridge, MA startup aims to create more precise treatments for fibrosis by going after targets associated with disease severity and that can be measured in plasma, CEO Rahul Ballal told Endpoints News. Ballal said the biotech is exploring a number of indications as fibrosis spans many areas: liver, lung, renal and cardiac.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

James Peyer, Cambrian BioPharma CEO

Ex­er­cise in a pill? That's the fo­cus of Cam­bri­an's new pipeline com­pa­ny

In line with its anti-aging central theme, Cambrian BioPharma has a new clinical candidate to work with, going after what CEO James Peyer described as a “Holy Grail target.”

The New York drug developer announced the launch of its newest pipeline company, Amplifier Therapeutics, Tuesday morning. Cambrian is investing $26 million into Amplifier to kick things off, Peyer told Endpoints News. James Hall, the ex-head of cardiovascular BD at AstraZeneca, is at the helm as Amplifier’s CEO.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

Members of the Switch Therapeutics team (L-R): Discovery biology director Lisa Scherer, CEO Dee Datta and chief technology officer Si-ping Han

Eli Lil­ly, UCB and oth­ers Switch in­to gear with $52M for new RNA biotech

South San Francisco biotech Switch Therapeutics unwrapped Tuesday morning with $52 million to finance conditionally activated siRNA molecules.

As its name suggests, the startup said it can switch on the molecules only in selected cells so they’re more precise than other RNAi approaches and can potentially be effective for longer periods. The biotech will start in the central nervous system and consider expanding its use in other disease areas through the help of potential pharma collaborators, CEO Dee Datta told Endpoints News.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

Sil­i­con Val­ley Bank cus­tomers to have all funds ac­ces­si­ble, US says, eas­ing biotech and tech tur­moil

Silicon Valley Bank customers will have access to 100% of their deposit funds starting Monday, the US Federal Reserve Board announced Sunday evening, potentially ending days of chaos and uncertainty for the biotech and tech sectors that relied heavily on the failed bank.

“Depositors will have access to all of their money starting Monday,” the Fed said in its statement. It didn’t provide more details, though there were reports from Bloomberg News and others that the Federal Deposit Insurance Corporation was seeking a corporate buyer for the bank, with final bids due Sunday evening.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.

Silicon Valley Bank headquarters in Santa Clara, CA (Photographer: David Paul Morris/Bloomberg via Getty Images)

Up­dat­ed: Wor­ries over Sil­i­con Val­ley Bank rip­ple through tech and biotech star­tups, VCs

Worries about the future of SVB Financial Group, the parent company of Silicon Valley Bank, rippled through the startup sector on Friday.

The bank is a major financial services provider to healthcare and technology startups, and holds billions of dollars worth of deposits for the industry, including for many early-stage, private companies. There were reports Thursday and Friday that venture capitalists and startups were pulling money from the bank after it said it was raising funds to cover a loss, sparking fears of a broader run on the bank.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

Peter Emtage, Santa Ana Bio CEO (Versant)

Ver­san­t's new im­munol­o­gy biotech San­ta Ana Bio snags Se­ries A with GV, TPG part­ners on board

Prolific biotech investor Versant Ventures is brewing another startup, this time immunology player Santa Ana Bio, whose board includes partners from GV and TPG.

On its website, the California biotech says it has recently closed a Series A financing. An SEC filing from last month outlined plans for a $70 million round after seeking a $42 million equity raise in 2021.

The company, led by CEO Peter Emtage, declined an interview and said it will come out of stealth later this year.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.

Flag­ship biotech 'Rings' in $85M+ for next-gen gene ther­a­py ef­fort

Another Flagship Pioneering creation is spotlighting a funding round this week, as Ring Therapeutics brought in an $86.5 million Series C, part of a strong March for private biotechs despite worries about a financing slowdown for drug R&D.

Some next-generation gene therapy makers think it’s time to pass the baton from one-and-done treatments that use adenovirus associated (AAV) vectors to new delivery methods. Ring believes that its anellovirus-based candidates can be dosed more than once.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

QurAlis chief scientific officer Dan Elbaum (center) works with researchers in the ALS biotech’s Cambridge, MA lab.

ALS biotech QurAlis gets $88M boost from four phar­mas for pair of PhI stud­ies

QurAlis picked up $88 million for two Phase I studies, hoping to ride regulatory waves driven by the recent FDA approval of Amylyx Pharmaceuticals’ ALS therapy.

Four biopharmas — Eli Lilly, Amgen, Sanofi and Mitsubishi Tanabe’s VC arm — are bankrolling a Series B for the biotech from Harvard stem cell pioneers Kevin Eggan and Clifford Woolf. In December, the startup began in-human trials of two therapeutics for patients with certain types of the progressive muscle weakness disease, which comes with a short life expectancy.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.

Eef Schimmelpennink, Lenz Therapeutics CEO

Lenz Ther­a­peu­tics eyes bet­ter vi­sion than Ab­b­Vie, Ora­sis with $80M+ for three PhI­II tri­als

Lenz Therapeutics thinks it can deliver a better eye drop than AbbVie’s Vuity and Orasis Pharmaceuticals’ CSF-1, under FDA review. And the San Diego biotech has $83.5 million to test those ambitions in three Phase III trials.

The late-stage studies are underway and will read out data on about 800 patients toward the end of this year and early 2024, president and CEO Eef Schimmelpennink told Endpoints News on Tuesday morning. The financing will bankroll the company for at least two and a half years, he added.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 163,300+ biopharma pros reading Endpoints daily — and it's free.