Financing channel feed

Someit Sidhu, JATT (Pathios Therapeutics)

An­oth­er life sci­ences SPAC has popped up from a small biotech CEO with the help of Take­da, No­var­tis vet­er­ans

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The SPAC train has slowed down since the extraordinarily high levels from late 2020 into early this year, but Tuesday saw the filing of a new blank-check company targeting the life sciences industry.

JATT Acquisition submitted its SEC paperwork Tuesday, penciling in an estimated raise of $120 million as it sets its sights on a reverse merger partner. The SPAC is run by Someit Sidhu, a co-founder of Pathios Therapeutics, as well as CEO of Akaza Bioscience and Izana Bioscience. Sidhu will control about 97% of the blank-check company’s shares, per the S-1.

CEO Harith Rajagopalan (Fractyl)

Af­ter a decade in the type 2 di­a­betes game, Fractyl Lab­o­ra­to­ries recharges with a fresh $100M and a new name

Harith Rajagopalan compared the way type 2 diabetes is managed to sticking your fingers in a dam that’s leaking from a number of places.

You can take drugs to lower your blood sugar, cholesterol, or blood pressure, but you’re not addressing what he says is the core issue — the metabolic abnormality that causes the disease.

“We’re so busy plugging the holes in the dam, we don’t have time to see that the whole infrastructure is at risk,” he said. “That infrastructure is a full-body systemic metabolic abnormality called metabolic syndrome, that we’re ignoring while we’re so busy trying to treat all of the individual symptoms of the condition.”

Michel Sade­lain puts his name and new cell en­gi­neer­ing tech be­hind 'ag­nos­tic' CAR-T start­up chas­ing epi­ge­net­ic anti­gens

It felt natural for Alain Maiore and Sebastian Amigorena to bring in Michel Sadelain as a co-founder of Mnemo Therapeutics. A CAR-T pioneer, Sadelain had been involved as an advisor since the early days — enthusiastic about Amigorena’s work in a genetic knockout that could enhance T cell memory and a new class of potential targets he’s discovered — and could introduce some well-known technologies to the toolbox. So they got the initial cash from Sofinnova Partners to plant roots in Paris and New York in early 2019; within a few months, they began to see more clearly just what the antigen discovery platform might unlock.

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An­oth­er busy week for IPOs be­gins with an off-the shelf cell ther­a­py play­er sniff­ing around uni­corn sta­tus

Editor’s note: Interested in following biopharma’s fast-paced IPO market? You can bookmark our IPO Tracker here.

A flurry of biotechs are expected to hit Nasdaq this week, with two companies, Ambrx Biopharma and Century Therapeutics, setting the terms for their public debuts, with expected raises at $126 million and $200 million, respectively. Alzamend Neuro is also joining in with a $12.5 million raise and two preclinical Alzheimer’s treatments in tow.

Alexander Vos, VectorY CEO

Start­ing fresh in man­u­fac­tur­ing, For­bion start­up re­fu­els to steer next-gen gene ther­a­py ap­proach for ALS, Alzheimer's in­to clin­ic

Forbion laid out its case for a next-generation gene therapy approach when it took the wraps off VectorY Therapeutics and its vectorized antibody tech in February. Now, the Dutch VC has tapped an experienced hand at cell and gene therapy manufacturing to steer the ship — and pulled a marquee syndicate for a €31 million ($37.6 million) seed round.

Alexander Vos, the new CEO, is a venture partner at BioGeneration Ventures and jumps immediately from VarmX, a BGV portfolio company developing an anticoagulant. But before that, he had led Dutch CDMO PharmaCell for eight years until it was bought out by Lonza.

Ken Song, RayzeBio CEO

Just shy of its 1-year an­niver­sary, ra­dio­phar­ma­ceu­ti­cals plat­form play Rayze­Bio bags an­oth­er megaround

Perhaps they should have called it RaiseBio.

Not even a full year post-launch, RayzeBio’s radiopharmaceuticals platform has hooked yet another $100 million-plus raise, and it appears the company’s next big catch will be a Nasdaq ticker.

CEO Ken Song unveiled the Series C round Tuesday morning, bringing the fledgling biotech’s total raise to $258 million. While he was hesitant to call it a crossover round, he said it very well could be RayzeBio’s last private round of financing.

Soft­Bank, Cor­morant lead hefty $210M in­jec­tion for Umo­ja's three-in-one can­cer im­munother­a­py play

Umoja Biopharma has scored some bold backers for its grand vision to reshape cancer immunotherapies.

The Seattle-based biotech is tying the bow around a $210 million Series B that features prominent crossover players: SoftBank Vision Fund 2, Cormorant Asset Management, RTW Investments, Temasek, Presight Capital, Caas Capital, and an investment fund associated with SVB Leerink. Execs declined an interview, a move that fits into an increasingly common playbook pointing to an IPO next.

Josh Mandel-Brehm, Camp4 Therapeutics CEO (Camp4)

Go­ing af­ter the phe­nom­e­non of 're­gR­NA,' Rick Young's Camp4 se­cures a launch round to push two pro­grams for­ward

You’ve heard of mRNA, largely thanks to the Covid-19 vaccines developed by Pfizer/BioNTech and Moderna. If you watch the R&D space closely, you’ve also probably heard of oRNA and eRNA.

Now, a new biotech out of Rick Young’s Whitehead Institute lab at MIT wants to introduce you to regulatory RNA, or regRNA.

The company is Camp4 Therapeutics, and it’s locked down its first fundraise with a $45 million Series A on Tuesday. Led by CEO Josh Mandel-Brehm, Camp4 wants to create oligonucleotide-based medicines that control protein expression to help regulate any kind of genetic disease.

Roberto Iacone, Alentis CEO

Swiss-based up­start march­es to­ward the clin­ic with a unique ap­proach to fi­bro­sis treat­ment

For more than 10 years, Thomas Baumert has been carefully studying a protein called Claudin-1 (CLDN1) for its role in fibrosis. Now, hot off a $67 million raise, he’s racing to the clinic with a monoclonal antibody he hopes can reverse kidney and liver disease.

Alentis Therapeutics, a biotech cross-bred in France and Switzerland, unveiled a Series B round early Tuesday morning that it will use to advance its lead candidate ALE.F02 into the clinic at the end of this year. The company launched in 2019 with a $13.2 million round led by two Swiss VC funds, BioMedPartners and BB Pureos Bioventures.

As Covid-19 shifts the world's at­ten­tion to biotech, Noubar Afeyan's Flag­ship builds $3.4B fund to fu­el new in­ven­tions. Here's the plan

A little more than a year ago, Flagship Pioneering rolled out a monster fund with $1.1 billion in it to bankroll the platform companies they were creating inside their own labs. But it turns out, that was just the prelude to a much, much larger raise, as both current investors — who’ve been reaping the rewards of some booming biotech stocks — join in with new investors betting on more in the years to come.

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