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Bain’s biotech team has cre­at­ed a $1B-plus fund — with an eye to more Big Phar­ma spin­outs

One of the biggest investors to burst onto the biotech scene in recent years has re-upped with more than a billion dollars flowing into its second fund. And this next wave of bets will likely include more of the Big Pharma spinouts that highlighted their first 3 years in action.

Adam Koppel and Jeff Schwartz got the new life sciences fund at Bain Capital into gear in the spring of 2016, as they were putting together a $720 million fund with $600 million flowing in from external investors and the rest drawn from the Bain side of the equation. This time the external investors chipped in $900 million, with Bain coming in for roughly $180 million more.

They’re not done with Fund I, with plans to add a couple more deals to the 15 they’ve already posted. And once again, they’re estimating another 15 to 20 investments over a 3- to 5-year time horizon for Fund II.

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ADC Ther­a­peu­tics beefs up mon­ster $200M round with fresh $76M haul

Days af­ter Roche se­cured ac­cel­er­at­ed ap­proval for its an­ti­body-drug con­ju­gate, Lau­sanne, Switzer­land-based ADC Ther­a­peu­tics has clinched an­oth­er $76 mil­lion to its al­ready hefty $200 mil­lion round of fi­nanc­ing un­veiled in 2017.

The fresh in­jec­tion brings ADC’s ven­ture haul to $531 mil­lion.

The funds will set the on­col­o­gy com­pa­ny up with “a strong bal­ance sheet to fund prepa­ra­tions for a po­ten­tial Bi­o­log­ic Li­cense Ap­pli­ca­tion (BLA) for AD­CT-402 (lon­cas­tux­imab tesirine) in re­lapsed or re­frac­to­ry dif­fuse large B-cell lym­phoma (DL­B­CL) in the sec­ond half of 2020, as well as prepa­ra­tions for a piv­otal Phase II tri­al of AD­CT-301 (cami­dan­lum­ab tesirine) in Hodgkin lym­phoma based on our re­cent end of Phase I meet­ing with the U.S. Food and Drug Ad­min­is­tra­tion,” said ADC chief Chris Mar­tin, in a state­ment on Wednes­day.

Ar­ti­zan com­pletes mi­cro­bio­me starter pack­age with Brii deal, CSO hire and some mon­ey to dash for the clin­ic

Three years af­ter giv­ing a syn­op­sis of its mi­cro­bio­me play with some seed fund­ing from Ma­lin and Hat­teras Ven­ture Part­ners, Ar­ti­zan is rais­ing the cur­tain on their first act in in­flam­ma­to­ry bow­el dis­ease.

Armed with $12 mil­lion in to­tal Se­ries A cash, a part­ner­ship with Chi­na’ Brii Bio and a new CSO hire, the New Haven, CT-based biotech is ready to hun­ker down for some pre­clin­i­cal work. Mean­while, CEO James Rosen tells me he will be get­ting to work rais­ing a Se­ries B in­tend­ed to fund clin­i­cal op­er­a­tions.

Spread­ing its wings in Chi­na with glob­al am­bi­tion, EpimAb snags $74M Se­ries B for bis­pe­cif­ic work

PHILADEL­PHIA — A Shang­hai-based biotech look­ing to make it big in the glob­al bis­pe­cif­ic boom has $74 mil­lion to both deep­en and broad­en its pres­ence in the clin­ic.

With the Se­ries B, EpimAb Bio­ther­a­peu­tics hopes to of­fer not on­ly proof that its plat­form tech works, but that it works across mul­ti­ple pro­grams. By the end of next year, it in­tends to have Phase I/II da­ta on 60 pa­tients for its lead as­set tar­get­ing EGFR and cMET as well as a sec­ond tri­al — for a dual check­point in­hibitor — well un­der way.

Neil Wood­ford force­ful­ly stems in­vestor out­flow by sus­pend­ing his be­lea­guered main fund

Mounting woes at Neil Woodford’s flagship investment fund has culminated in a drastic decision to block investors from pulling out.

The suspension of the issue, cancellation, sale, redemption and transfer of shares in the Woodford Equity Income Fund comes days after it was downgraded by the investment research firm Morningstar. Plagued by an exodus of disappointed investors, the fund has shrunk from £10.2 billion to £3.7 billion in just 2 years, the Guardian reported.

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Luck and uni­corns? Who needs that? San­té Ven­tures’ new $250M fund is look­ing for biotech up­starts

A Texas-based ven­ture group with a yen for biotechs trav­el­ing off the beat­en path has raised a new $250 mil­lion fund to con­tin­ue its jour­ney.

San­té Ven­tures in Austin says it ex­pects to make 20 to 25 new in­vest­ments with this new fund, which added the Penn­syl­va­nia Pub­lic School Em­ploy­ees’ Re­tire­ment Sys­tem to its list of in­sti­tu­tion­al back­ers. And they’re look­ing to jump in ear­ly — any­where from seed to Se­ries B.

Se­quoia helps fu­el Whole Bio­me's planned launch for 'med­ical pro­bi­otic­s' in $35M Se­ries B

Im­age: Colleen Cut­cliffe WHOLE BIO­ME

The boom in mi­cro­bio­me ther­a­peu­tics has el­e­vat­ed the “good” gut bac­te­ria from pro­bi­otics to drug sta­tus, spurring some up­starts backed by promi­nent ven­ture in­vestors to take their ther­a­pies on the high­ly reg­u­lat­ed jour­ney to­ward an FDA ap­proval. But Whole Bio­me wants to go a sep­a­rate di­rec­tion by oc­cu­py­ing the mid­dle ground with what it’s call­ing “med­ical pro­bi­otics.”

Third Rock un­veils liq­uid biop­sy biotech, lead­ing $110M bet it can Thrive in ear­ly can­cer de­tec­tion

Can­cer is the sec­ond lead­ing cause of death glob­al­ly — the ear­li­er it is de­tect­ed, the bet­ter shot pa­tients have of bounc­ing back. Re­searchers have long pur­sued a min­i­mal­ly-in­va­sive, ef­fec­tive test to ex­pose ear­ly mark­ers of the of­ten dead­ly dis­ease, and weeks ago Grail blue­print­ed its strat­e­gy for its blood test for ear­ly can­cer de­tec­tion. On Thurs­day, Third Rock Ven­tures un­veiled its shot at that lofty goal, with the launch of a liq­uid biop­sy com­pa­ny that has raised a meaty $110 mil­lion in its first round.

Ready to har­vest its PD-L1, Al­pham­ab re­loads with $60M to nur­ture the bis­pe­cif­ic patch

Al­pham­ab’s $100 mil­lion Se­ries A last No­vem­ber for the on­col­o­gy unit marked its first ven­ture round in al­most 10 years of ex­is­tence. As it turned out, it was al­so a sig­nal that founder and CEO Ting Xu was ready to bring in the cash flow he needs to com­plete the reg­u­la­to­ry jour­ney for his lead check­point in­hibitor and dive in­to the bis­pe­cif­ic project he’s en­vi­sioned for years.

The Suzhou-based com­pa­ny un­veiled its lat­est fi­nanc­ing on Tues­day, in­fus­ing $60 mil­lion in­to pipeline de­vel­op­ment and a po­ten­tial com­mer­cial launch as well as a new R&D and man­u­fac­tur­ing site. Hud­son Bay Cap­i­tal Man­age­ment led the Se­ries B and Adri­an Cheng, the heir of a re­al es­tate em­pire in Hong Kong, par­tic­i­pat­ed along­side ex­ist­ing in­vestors.

Ex-FDA com­mish Scott Got­tlieb makes a quick jump back on­to the mon­ey side of biotech

Well, that didn’t take long.

Just a little more than a month after Scott Gottlieb’s surprise exit at the FDA, the former commish is back on the money side of the industry he had been in charge of regulating for 2 years. He’s rejoining New Enterprise Associates as a full-time investing partner, where he expects to start backing biotech startups and sitting on boards again.

Axios got the scoop on Wednesday, which Gottlieb — who’s been well known for keeping his editorial contacts close — quickly confirmed in a Tweet.

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