Eric Murphy (Kinnate)
OrbiMed takes point on a new biotech launch, but almost everything remains secret for now
If you missed the news of a new company launch backed by blue-chip investor OrbiMed early Wednesday morning, that was by design.
Alterome Therapeutics quietly emerged from stealth with $64 million in its Series A, a fairly large sum for an initial biotech raise. One would think, given the industry’s penchant for bombast, such a raise would be accompanied by all the fanfare that comes with an OrbiMed backing and enough cash to buy hundreds upon hundreds of the most expensive Tesla model.
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