Derrick Rossi, Convelo Therapeutics

Scoop: Mod­er­na co-founder's re­gen­er­a­tive med­i­cine biotech nabs funds, but los­es Genen­tech

Mod­er­na co-founder Der­rick Rossi is back with ad­di­tion­al fi­nanc­ing for a Cleve­land biotech that he’s been work­ing on since 2017, but Con­velo Ther­a­peu­tics is mov­ing for­ward with­out a Big Phar­ma part­ner.

The re­tired Boston Chil­dren’s Hos­pi­tal pro­fes­sor and his co-founders at Case West­ern Re­serve Uni­ver­si­ty have raised near­ly $11 mil­lion for Con­velo in a new eq­ui­ty round, ac­cord­ing to an SEC fil­ing last week. Genen­tech is no longer part of the pic­ture, though.

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