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Frank Watanabe, Arcutis CEO

Days af­ter an FDA ap­proval for its pso­ri­a­sis drug, Ar­cutis looks to raise $150M in pub­lic cap­i­tal

In this bearish market, public companies have raced to investors primarily only after showing impressive clinical data or reaching other prominent milestones. And as the IPO window remains shut, the newest company to hop on the bandwagon is Arcutis Biotherapeutics.

The California-based company announced Thursday a public offering of $150 million in shares of its common stock. The news comes days after Arcutis won FDA approval for its phosphodiesterase-4 (PDE4) inhibitor roflumilast, marketed as Zoryve, in plaque psoriasis for children and adults ages 12 and up.

Alexandria Forbes, MeiraGTx CEO (Hollie Adams/Bloomberg via Getty Images)

Gene ther­a­py biotech us­es its man­u­fac­tur­ing sites as col­lat­er­al to net a $100M loan

Gene therapy biotech MeiraGTx is looking to get some quick cash and is putting up its manufacturing facilities to do it.

On Wednesday the company announced that it had clinched a loan with affiliates of Perceptive Advisors for up to $100 million, with the biotech getting $75 million upon closing.

According to CEO Alexandria Forbes, the biotech secured the capital by putting up its manufacturing facilities for collateral, which will extend the company’s cash runway for the next two years and into Q4 of 2024. The Sam Waksal-founded biotech intends to use the cash primarily to continue development of its pipeline, preclinical programs and technology platforms.

Xiaodong Wang, Sironax co-founder and chairman

BeiGene co-founder and ex-Viela Bio BD leader snag $200M for age-re­lat­ed biotech, with ARCH jump­ing in

Five years after forming and with more than $100 million already invested in the company, a biotech from BeiGene co-founder Xiaodong Wang is back with another whopping investment, this time at $200 million.

Sironax disclosed the Series B on Tuesday, saying the funds will bankroll studies of drugs for age-related degenerative diseases that include “regulated cell death, neuroprotective pathways and neuroinflammation.” Already in the clinic are two receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitors.

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Alexandre Reeber, Core Biogenesis CEO

French biotech armed with Se­ries A looks to build out man­u­fac­tur­ing fa­cil­i­ty for plant-based pro­tein tech

Using plant-based supply to manufacture vaccines and other pharmaceutical materials has become more prevalent in the biotech space, but one French biotech is looking to apply it to the cell therapy market.

Core Biogenesis, based in Strasbourg, France, uses a plant-based bioproduction platform to produce proteins. According to CEO Alexandre Reeber, the company uses camelina, otherwise known as wild flax traditionally used in gastronomy, to manufacture proteins from the seeds of the plant. Core has secured $10.5 million in a Series A to push its tech forward.

Alexis Borisy, IDRx co-founder

New biotech from Alex­is Borisy will test Mer­ck KGaA, Blue­print can­cer drug com­bo in bid to ful­fill Gleevec promise

Alexis Borisy and Ben Auspitz want to be intelligent with their latest biotech, not “stupid.”

That’s in the words of Borisy, the repeat biotech entrepreneur behind the likes of Blueprint Medicines and EQRx. He and business partner Auspitz, a long-time industry investor at F-Prime Capital, want to bring together “intelligently designed” cancer drugs, hence their startup’s name: IDRx.

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Mani Mohindru, Novasenta CEO

Ex­clu­sive: UPMC launch­es an­oth­er biotech, root­ed in the tu­mor mi­croen­vi­ron­ment

In Mani Mohindru’s telling, Novasenta is “as biotech-y as you can get.”

The CEO of the latest startup out of UPMC’s sprawling research apparatus says her biotech is looking for novel targets to make new cancer therapies, as compared to the proliferation of biotechs popping up with programs going against targets that are already validated or in the public domain.

The company has secured $40 million in Series A funds led by the Pittsburgh institution, based on 10 years of work out of the Hillman Cancer Center’s Tumor Microenvironment Center. Three programs have been propelled to center stage, with one or two of them slated for IND-enabling studies later next year with the aim of clinical trials kicking off in 2024, Mohindru told Endpoints News.

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Ali Ansary, Ozette Technologies CEO

A new AI start­up, launched with a trio of Fred Hutch vets, wants to give a 'zoomed-in' view of can­cer cells

Ali Ansary, a trained physician, had realized by 2018 that cancers would no longer be treated just with traditional chemotherapy and radiations. Immunotherapy was becoming big, and yet there was no way for doctors to get a complete picture of how immune cells worked at the cellular level when used for cancer therapy, he says.

“How do we get to know more information about this system that is more than inflammatory markers?” he wondered.

Lonnel Coats, Lexicon Pharmaceuticals CEO

Lex­i­con hops on pub­lic of­fer­ing train to pre­pare for next year's po­ten­tial drug ap­proval

Public offerings and private placements have for years been part of the lexicon for Nasdaq-listed biopharmas, but they’ve become more prominent amid a bear market and a common tactic for drug developers in the hours and days after disclosing positive news.

Lexicon Pharmaceuticals is the latest. A day after saying the FDA had accepted its drug resubmission for heart failure, the Texas biotech eyes $85 million in gross proceeds from a public offering and a private placement, almost split evenly.

Daniel Nomura, Vicinitas Therapeutics founder

'Tip of the ice­berg': No­var­tis-part­nered UC Berke­ley lab churns out a start­up to tack­le pro­tein sta­bi­liza­tion

For the past decade, Daniel Nomura’s lab at UC Berkeley has been working to find chemical approaches to drug the so-called “undruggable,” and with the help of Novartis’ research arm for the past five years, he has built out the foundation for a new biotech in the protein stabilization field.

Vicinitas Therapeutics joins a small field of upstarts looking to flip the switch and focus on stabilizing certain proteins, rather than degrading them. Cystic fibrosis is a good example of a disease that could benefit from small molecules aimed at stabilizing the CFTR protein, which is what Nomura’s lab did in a recent Nature Chemical Biology paper, serving as the basis for Vicinitas.

Diana Brainard, AlloVir CEO

Gilead again backs AlloVir's T cell ther­a­py in $127M di­rect of­fer­ing

Gilead and a host of other companies are once again backing T cell immunotherapy biotech AlloVir in a direct offering that will provide the drugmaker with nearly $127 million in proceeds to get its lead therapy to market.

Already stocked with $172 million at the end of June, the Massachusetts biotech wants the additional money to bankroll its three ongoing Phase III trials of its allogeneic T cell therapy posoleucel. The new funds will also support global regulatory filings for the therapy, the company said Wednesday.