Financing channel feed

Faraz Ali, Tenaya CEO

Tenaya bags $75M from stock sale as it pre­pares to put a gene ther­a­py for heart dis­ease in­to the clin­ic

In its Q3 update, Tenaya Therapeutics told investors that it’s reprioritizing the pipeline to extend the runway until 2024 and focus its three lead programs in heart diseases — two gene therapies and one small molecule drug.

Just days later, though, execs are bringing in a fresh $75 million haul.

The proceeds from the public offering — together with existing cash, cash equivalents and marketable securities of near $150 million — will fund planned preclinical and clinical development of those most advanced candidates, as well as earlier-stage research, platform work on AAV capsid engineering and manufacturing.

Emily Leproust, Twist Bioscience founder and CEO

Scor­pi­on Cap­i­tal goes af­ter Twist Bio­science as lat­est syn­bio tar­get, com­par­ing biotech to Ther­a­nos

The infamous short seller who went after Ginkgo Bioworks last year has a new target in its sights.

Scorpion Capital released a 236-page report Tuesday morning focused on Twist Bioscience, the synbio startup led by Emily Leproust that’s trading down $TWST more than 27%. The release wiped hundreds of millions of dollars in market capital and almost 67% since January 1.

Dan Edelstein, Haystack Oncology CEO

Fol­low­ing AS­CO show­ing, Bert Vo­gel­stein’s lat­est start­up launch­es in­to re­cur­rent can­cer de­tec­tion

Cancer research luminary Bert Vogelstein is adding to his line of cancer diagnostic companies, following Exact Sciences, Inostics, PGDx and Thrive (which was bought by Exact).

Haystack Oncology is launching out of Catalio Capital Management, where Vogelstein serves as a venture partner as well. It’s starting out with a $56 million Series A, adding to its $10 million in seed funding, which was led by Catalio but also featured research tool manufacturer Bruker, the venture arm of Exact, and Alexandria Venture Investments.

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Peter Blume-Jensen, Acrivon CEO

A rare biotech IPO lands on Nas­daq, boost­ed by RA Cap­i­tal and a for­mer Eli Lil­ly drug

Another biotech backed by RA Capital Management is making the Nasdaq jump Tuesday, braving the cold bear market waters.

Acrivon Therapeutics priced its IPO at $12.50 a share, below the expected range of $16 to $18, roughly a year after it put together its last financing round — and less than 18 months after launching out of stealth. In total, the IPO brought the company just short of a nine-figure raise, coming in at $99.4 million.

Arthur Kuan, CG Oncology CEO

Can an on­colyt­ic virus ther­a­py chal­lenge the stan­dard of care in blad­der can­cer? CG On­col­o­gy has $120M to find out

CG Oncology is cashing in on its interim data update.

Tuesday morning, the Irvine, CA-based biotech announced that it raised $120 million — eclipsing the combined $87 million it’s brought in since its inception 12 years ago. The raise comes after CG posted updated data at SITC for its oncolytic virus candidate in combination with Keytruda for non-muscle invasive bladder cancer, or NMIBC, in patients who did not respond to standard Bacillus Calmette-Guérin (BCG) therapy.

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John Mulligan, Bonum Therapeutics CEO

The crew that sold its lead IL-2 pro­gram to Roche is back with $93M to work on more next-gen I/O drugs

John Mulligan was in the process of raising about $90 million for a Series B to take Good Therapeutics’ PD-1-regulated IL-2 into the clinic when the board decided to do a smaller round while fielding buyout talks from Big Pharma companies.

He ended up selling the company — or more specifically, that lead program and the underlying intellectual property — to Roche for $250 million upfront, plus a slate of biobucks, and returning the money to investors. But the 26 employees, lab lease and the technology for making conditionally active cancer drugs remained, in the form of a new company named Bonum Therapeutics, which was sustained by a bridge round of $3 million.

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Jnana co-founders Joanne Kotz (L) and Joel Barrish

Roche dou­bles down on Jnana's drug dis­cov­ery plat­form, kick­ing off sec­ond deal with $50M cash — while biotech bags $107M

Whatever Roche has learned about Jnana Therapeutics’ drug discovery platform over the past two years, it’s intrigued enough to set up a second partnership.

While the last deal had centered on solute carriers — or SLCs, the huge family of proteins that Jnana had built its name on — this time around, Roche wants to apply Jnana’s tech on a range of other hard-to-drug targets. The pharma giant will dish out $50 million upfront, plus “significant near-term milestone payments” and more than $2 billion in milestones.

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Kent Hawryluk, MBX Biosciences CEO (via IUPUI School of Science)

RA Cap­i­tal jumps aboard nine-fig­ure round for the en­docrine biotech co-found­ed by Hu­ma­log in­ven­tor

In the summer of 2020, a successful scientist/investor team took the wraps off their latest project in MBX Biosciences. But at the time, they left most granular details up to the imagination.

On Monday, MBX revealed what it’s been working on and how it plans to move forward.

The biotech, helmed by CEO Kent Hawryluk and his longtime business partner and CSO Richard DiMarchi, closed a $115 million Series B round Monday, led by Wellington Management. RA Capital — the Peter Kolchinsky/Rajeev Shah-led firm with a knack for steering quick Nasdaq leaps — also chipped in.

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J. Gordon Foulkes, Lipidio Pharmaceuticals CEO

Meta­bol­ics biotech se­cures hum­ble Se­ries A from big-name in­vestors

Lipidio Pharmaceuticals launched right before Covid-19 took the world by storm, initially focusing on metabolic indications such as NASH, Prader-Willi Syndrome and anti-psychotic drug-induced weight gain.

More than 2.5 years later, the biotech has added dermatology to that list and secured some of the industry’s most well-known investors for a Series A extension round.

Lipidio announced on Thursday morning that it has raised more than $20 million. It also secured three former biotech chiefs as new investors: Tanox founder and ex-CEO Nancy Chang, Allergan veteran Brent Saunders and founding Alnylam CEO John Maraganore, who seems to be everywhere these days after leaving his post at the RNAi giant.

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Vlad Coric, Biohaven CEO

Bio­haven claims $300M+ pub­lic of­fer­ing as com­pa­ny charts new jour­ney af­ter Pfiz­er buy­out

Biohaven reported its Q3 earnings Wednesday, just a few weeks after Pfizer made a major purchase of the company’s CGRP portfolio. And tucked away in the report, the biotech noted a massive raise.

The biotech reported that as of October 25, it closed a previously mentioned public offering for 28,750,000 shares at $10.50 per share. Underwriters had the option to purchase an additional 3,750,000 shares at that same price. The overall gross proceeds? $301.9 million.