Microsoft, Google back DNAnexus' Big Data work with $58M; Novartis, Temasek back $50M round for Pear’s med apps
→ Big Data is worth Big Money. DNAnexus has grabbed a $58 million financing round led by new investor Foresite Capital with help from Microsoft, GV (formerly Google Ventures), TPG Biotech, WuXi NextCODE, Claremont Creek Ventures, and MidCap Financial. The company touts a platform tech enabling clients to glean new insights from large genomic and biomedical datasets. “As the volume of biomedical information continues to increase, the DNAnexus Platform and upcoming product releases catalyze collaboration, data sharing and machine learning on which the development of precision medicine depends. Foresite Capital is pleased to lead this new financing round,” said Jim Tananbaum, founder and CEO of Foresite Capital.
→ A few months after Pear Therapeutics scored an FDA approval for its mobile app to help patients deal with substance abuse, the biotech has rounded up a $50 million venture round to keep rolling on a field it calls digital medicine. Pear’s new apps will focus on fields like schizophrenia, PTSD, anxiety and depression with technology aimed at better compliance and coaching.
→ The FDA has accepted Achaogen’s application for plazomicin as a new therapy for complicated urinary tract infections, handing the biotech a priority review. The PDUFA date is June 25 and Achaogen expects to have its European application ready later in the year. You can also expect an advisory committee hearing on the application.
→ The penny stock biotech Protalix $PLX ran out a positive, early stage snapshot of the data they’re seeing in a mid-stage study of OPRX-106 (oral anti-TNF) in patients with ulcerative colitis. Researchers for the Israeli company touted a 36% remission rate at 8 weeks in 14 patients, which helped to lightly buoy shares this morning.
→ A badly battered Syros $SYRS has lined up a supply of J&J’s Darzalex for added Phase II cohorts using a combo with SY-1425 on genomically defined subsets of patients with acute myeloid leukemia and myelodysplastic syndrome.