Ex-Allergan team at Bonti raises $15.5M for another neurotoxin; Shire commits to publishing in open access journals only

Fauad Hasan

Fauad Hasan and his team of fellow former Allergan execs at Bonti has raised $15.5 million in Series C funding for the development of their lead product, a botulinum neurotoxin dubbed EB-001, for therapeutics and aesthetic uses. If it sounds like Botox, that’s no coincidence — between the leadership team, Bonti has a wealth of experience in developing, manufacturing and strategizing for the wrinkle-reducing drug that has wide applications on- and off-label. For now, the Newport Beach, CA biotech is targeting pain, and planning to channel some of the funds to a PhII trial testing EB-001 as an opioid alternative. David Ramsay, newly appointed CFO, will help manage the pool of money.

→ Aspiring to be a leader in rare disease, Shire $SHPG has pledged a new open access policy that requires all Shire-supported research to be submitted to journals with public availability. That means the public should be allowed to obtain free, unrestricted online access to those manuscripts promptly following publication, with a goal of fostering medical collaboration and innovation. “I believe Shire is the first biotechnology company to mandate that its research be published under an open access model,” said Robert Kiley, head of open research at the Wellcome Trust, in a statement.

→ The DMD startup Solid Biosciences upped its upcoming IPO to $130 million, with plans to sell 7 million shares at $18 to $19.

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Recursion Pharmaceuticals Salt Lake City, UT
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