New Vancouver-based fund has $100M to invest in biotech; FDA hands out $23M in rare disease R&D grants

The Chinese investment bank GF Securities has teamed with Quark Venture in Vancouver to launch a new biotech fund, starting with $100 million with plans to bulk that up to $500 million. Quark invested $30 million in Methylation Sciences recently, backing their work on new drugs for depression. And the fund has plans to invest in a range of drug developers, device companies, health IT and more, looking to make deals around the world, according to a statement put out by the company.

LA-based Science 37 has raised $31 million in Series B cash to continue to work on a new approach to clinical-stage drug development. The company promises to eventually do away with traditional clinical trial sites, allowing drug companies to study patients in their homes. Redmile Group led the round with help from Lux Capital, dRx Capital and Sanofi Genzyme BioVentures.

34263_fda-hands-out-23m-for-rare-disease-developmentThe FDA has handed out 21 research grants totaling $23 million to a range of academic groups and biotech companies working on new drug development to combat rare diseases. As the math would suggest, most of these are relatively small grants. The research projects are being carried out at clinical sites around the world. You can see the whole list here.

Get Endpoints News in your inbox

News reports for those who discover, develop, and market drugs. Join 13,500+ biopharma pros who read Endpoints News articles by email every day. Free subscription.

Quick Subscribe

You're subscribing to Endpoints News

John Carroll, Editor and Co-Founder

We produce two daily newsletters designed to give you a complete picture of what's important in biopharma.

Early Edition is a skimmable digest of original sources you need to see by ~7:15a ET, and our Main Edition is the daily chronicle of biotech, with every story inside the email ~11:55a ET.
2x/weekdays. Privacy policy