Fate raises $57M; Biogen vet named CSO at Scholar Rock

Jeffrey Flier

San Diego-based Fate Therapeutics $FATE has raised $57 million through a private placement of shares. Redmile bought 2.8 million preferred shares at $13.30 each, which convert into 5 common shares. The rest of the group acquired 7.2 million common shares at $2.66 each. Fate says it plans to use most of the money on its pipeline work.

Jeffrey Flier, the former dean of faculty of medicine at Harvard, is joining Scholar Rock’s board and scientific advisory group. Biogen vet Alan J. Buckler, meanwhile, is stepping into the Cambridge, MA-based group as CSO.

The FDA has OK’d Allergan’s XEN Glaucoma Treatment System, which consists of the XEN45 Gel Stent and injector.