Protocols

China’s CStone raises $285M in IPO; Axial raises $25M for microbiome work on Parkinson’s, autism

→ Targeting the axis between the gut and the brain, microbiome startup Axial has landed a $25 million B round as it looks to advance programs for Parkinson’s disease and autism. Seventure Partners, through its microbiome-focused fund Health for Life Capital, led the round alongside the Longwood Fund, Domain Associates, Heritage Medical Systems and “a group of high net worth individuals based in Southern California.”

CStone Pharmaceutical has ended its first day of trading on the Hong Kong Stock Exchange slightly above its IPO price of $1.53 (HK$12), kicking off the year for HKEX’s biotech board in style. Pricing in the middle of the range, CStone raised $285 million for its immuno-oncology pipeline, roughly a third of which was from four cornerstone investors: GIC, Boyu Capital, Indus Funds and Ishana Capital.

Section 32 is well on its way to filling out its second fund, targeted at $300 million. The venture group, founded by former Google Ventures chief Bill Maris, has raised $200 million so far for Fund 2, according to a filing with the SEC. Section 32 has been a busy player in the life sciences field, backing a number of startups. The news was first reported by Xconomy.

Bayer and Orion say they’ve completed the rolling submission of an NDA for darolutamide plus androgen deprivation therapy in treating prostate cancer.


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Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT
Director of Operations
Atlas Venture Cambridge, MA

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