Sarepta raising $325M; Astellas joins the big migration to Cambridge, MA

With its shares boosted by news of swelling revenue from its eteplirsen franchise in Duchenne muscular dystrophy, Sarepta has priced shares $SRPT for a $325 million raise. The biotech says it plans to use the cash for a variety of purposes, ranging from commercialization efforts to business development and clinical trials.

→ Astellas has joined the global migration of biopharma companies to Cambridge, MA. The Japanese pharma has taken a lease out on space in Cambridge, according to a report from the Boston Business Journal.

→ Duluth, GA-based Sebacia completed a $20 million Series D financing led by existing investors Versant Ventures, Domain Associates, Accuitive Medical Ventures and Partners Healthcare Innovation Fund. The cash will be used to develop a new acne treatment. Sebacia also closed a $16 million debt facility with Hercules Capital.

→ Gemphire Therapeutics $GEMP today announced that it has entered into a loan and security agreement with Silicon Valley Bank for a term loan of up to $15 million.

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