Grail grabs $900M-plus in Series B; Alnylam’s givosiran makes PRIME time
→ Menlo Park, CA-based Grail has banked more than $900 million in its first close of a big Series B led by Arch Venture Partners. J&J Innovation made a big contribution, drawn by the upstarts plans to revolutionize the early detection and treatment of cancer. “We envision a global community that benefits from early-stage cancer detection where fewer individuals face the anguish of late-stage diagnosis and devastating outcomes,” said Jeff Huber, Grail’s CEO. “I believe that Grail’s approach leveraging high-intensity sequencing, population-scale clinical studies, and state of the art Computer Science and Data Science is unparalleled in the field of cancer detection. Our team made tremendous progress in 2016 and I look forward to additional clinical and strategic milestones.”
→ Cambridge, MA-based Alnylam says the EMA has added its RNAi drug givosiran (ALN-AS1), targeting aminolevulinic acid synthase 1 (ALAS1) for the treatment of acute hepatic porphyrias, to its PRIME project for early access. PRIME may put this drug on an accelerated pathway to an early approval.
→ Veloxis Pharmaceuticals says it will close its office in Edison, NJ and concentrate its staff in North Carolina.