Oprah day in biotech: Regenacy gets $30M, Abbisko gets $70M, Castle Creek gets $75M
→ A young biotech in Waltham called Regenacy announced a $30 million Series A, led by Cobro Ventures and Taiwania Capital Management. The company was a spinout from the biotech Acetylon after it sold itself to Celgene in 2017. Regenacy was given partial rights to Acetylon’s lead drug – ricolinostat– in a couple indications, such as nerve pain, while Celgene pushed them forward in cancer. The biotech will use the Series A funds to push the drug into a Phase II proof-of-concept trial.
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