Financing channel feed

Adam Gridley, Allay Therapeutics CEO

Pain play­er Al­lay makes good on launch promis­es, lock­ing down lat­est fundrais­ing round to ad­vance lead im­plant

Drugmakers in the pain space have a difficult road to approval, even outside of opioids, but a fresh-faced startup that launched this summer felt confident that investors would like what it brought to the table. Turns out it was right.

Allay Therapeutics on Wednesday closed a $60 million Series C round the biotech plans to use to advance its lead local analgesic implant into a key Phase IIb study in patients post-knee replacement surgery.

The team be­hind eF­FEC­TOR's SPAC deal is back af­ter go­ing from launch to merg­er in just 4 months

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The folks who successfully launched and merged a SPAC earlier this year are back again, this time seeking to take another partner to Nasdaq through the blank-check route.

Following the debut of eFFECTOR Therapeutics, the team behind the Locust Walk Acquisition SPAC will embark on a new reverse merger attempt, according to an SEC filing. The new SPAC will be called Phoenix Biotech Acquisition, and it is penciling in $155 million for its IPO.

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Gaxin Xia

Shang­hai biotech tack­ling kid­ney dis­ease gets an­oth­er round of cash

Four months after a secretive Shanghai biotech pulled in $60 million for a Series B round, it’s returning to the fore with a little more cash.

Alebund Pharmaceuticals closed a $54.5 million round it’s describing as “Series B+,” the company announced Monday evening, aiming to further advance its kidney disease programs. Funds will go toward two clinical assets as well as the construction of a manufacturing site, Alebund said in a release.

Bill Haney, Skyhawk CEO (Dave Pedley/Getty Images for SXSW)

Bill Haney adds an­oth­er $133M to Sky­hawk's cof­fers, as the RNA start­up guns for the clin­ic

A few years after becoming one of the first major biotechs out to drug RNA with small molecules, serial entrepreneur and filmmaker Bill Haney is reeling in another $133 million for Skyhawk Therapeutics. And it sounds like he’s got the S-1 papers in his back pocket.

Skyhawk unveiled the latest round led by Fidelity Management and Research on Tuesday morning, which Haney says is likely the company’s last venture round before going public. Other big name investors like GreatPoint Ventures and Rock Springs Capital also chipped in.

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Jim Sullivan, Vanqua Bio CEO

Spurred on by Or­biMed part­ner's di­ag­no­sis, Van­qua Bio takes aim at neu­rode­gen­er­a­tive dis­ease with blue-chip back­ers

The FDA’s recent approval of Biogen’s Aduhelm has provided a spark plug for neuroscience research across the biopharma spectrum with investors more likely than ever to jump on board. A Chicago biotech now has its own clutch of blue-chip backers to pursue drugs across a range of indications — and it all started from a close colleague’s own diagnosis and search for a cure.

OrbiMed startup Vanqua Bio closed an $85 million Series B led by Omega Funds to put its lead candidate targeting the GCase enzyme in the clinic, first in Gaucher disease and then for a rare form of Parkinson’s, the company said Tuesday.

Jason Lettmann, Lightstone Ventures

Light­stone Ven­tures un­veils $375M third fund, this time ex­pand­ing its wish­list in blos­som­ing CNS field

Neuroscience is having a moment right now, and one VC firm straddling the line between biotech and medtech is looking to capitalize on the field’s rapid growth.

Lightstone Ventures has raised $375 million for its third venture fund with an eye on expanding its focus in CNS disease, the firm said Tuesday.

The newest raise brings Lightstone’s total to more than $850 million since the firm was founded back in 2012. So far, that treasure chest has led to investments in around 30 companies split across the biotech and medtech spaces. With its third and largest fund, Lightstone is expecting much the same as before — mostly investments in seed-stage to Series A companies with an eye on “breakthroughs” in patient care, general partner Jason Lettmann told Endpoints News.

Rosana Kapeller, Rome CEO

Rosana Kapeller rais­es $77M in bid to make re­peatome drugs a re­al­i­ty

Given the choice, Rosana Kapeller would have picked different circumstances to be a first time founder-CEO.

The longtime computational biologist, an early veteran of Millennium and Nimbus, began putting together her latest venture in late 2019, raising the Series A for Rome Therapeutics in the winter and early spring of 2020. And then, of course, the world shut down.

Kapeller, spritely but forthright, acknowledges it’s been a struggle. She went a year without seeing most of the team she was building.

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Frédéric Desdouits, TreeFrog Therapeutics CEO

UP­DAT­ED: French biotech rais­es $75M for new cell ther­a­py man­u­fac­tur­ing tech, Parkin­son's treat­ment

A French cell therapy startup is getting two new offices in opposite parts of the world, and a new CEO to boot as it announces a new round of funding Monday.

Biotech TreeFrog Therapeutics, which is focused on stem cell therapy, closed a $75 million Series B, the company announced. The round brings the company’s total funding to $83 million, and allows them to open up offices in Boston and Kobe, Japan, as it advances its biomimetic C-Stem technology for clinical manufacturing. The US office will start with a staff of around 10 to 15 people, but if all goes well, that will change quickly.

Rusty Williams, Walking Fish CEO

Five Prime founder Rusty Williams sets out to test the lim­its of cell ther­a­py with ax­olotl-in­spired biotech

Eighteen years after launching Five Prime Therapeutics, serial entrepreneur Lewis “Rusty” Williams was itching to start something new again. So he assembled the “best of the best” of his old colleagues at a bar and grill near Five Prime’s headquarters and got to work on biopharma’s latest puzzle: using B cells to break the boundaries of cell therapy.

A couple years later, the group has upgraded their corner table to office space in the Bay Area — and on Monday, the company they founded, Walking Fish, unveiled a $50 million Series A round to fund a push toward the clinic.

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Andrew Hopkins, Exscientia CEO

Ex­sci­en­tia tees up an IPO for its AI drug dis­cov­ery plat­form, like­ly not will­ing to set­tle for just $100M

The biotech IPO market awoke from its summer hibernation on Friday morning with a small ADHD drug developer seeking a modest raise, but late Friday night saw another company file its SEC paperwork, one that will likely shoot for the stars.

Exscientia, the UK-based AI outfit with bold claims about its platform, submitted its F-1 on Friday, penciling in an initial $100 million raise estimate. That figure will almost certainly end up much higher, as Exscientia has spent most of 2021 racking up huge fundraising sums thanks to a Series C extension headed by BlackRock, and an up to $525 million Series D that included a $300 million equity investment from SoftBank.