IPO-bound Intarcia hauls in $215M, and plans to add more; Peloton raises $52M round
With its highly touted diabetes drug/device ITCA 650 being set up for a promised launch late next year (if it’s approved), Intarcia has come up with a $215 million raise. And the private biotech, expected to line up for an IPO soon, says it will add even more cash to the kitty later this year. ITCA 650 is an implanted device that slowly oozes a reformulated version of exenatide. The biotech unicorn has already raised about a billion dollars.
Peloton Therapeutics, a spinout of UT Southwestern in Dallas, has raised a big D round, gathering $52.4 million for a lead drug aimed at renal cell carcinoma. New investor Foresite Capital Management stepped in for the round, with participation from all existing investors, including Remeditex LLC, The Column Group, Tichenor Ventures LLC, Topspin Fund LP, and Nextech Invest. “The company’s lead program targeting hypoxia-inducible factor-2α (HIF-2α) has generated exciting responses in patients with renal cell carcinoma, with potential applications in von Hippel-Lindau disease, glioblastoma multiforme and other diseases with high unmet medical need,” noted Foresite CEO Jim Tananbaum in their release.
Pfizer has nabbed an option to license Rockville, MD-based OncoImmune’s anti-CTLA4 antibody ONC-392 in a deal worth up to $250 million in an upfront and potential milestones. If Pfizer ends up taking the option, it will also take responsibility for development costs.
An FDA advisory committee has voted down Spectrum’s experimental bladder cancer drug apaziquone, sending its shares down in late trading Wednesday.