Strongbridge raises $53M in financing; Sienna Bio sets terms for $70M IPO
→ Strongbridge Biopharma has raised $53 million from CRG. Matthew Pauls, chief executive officer of Strongbridge, said: “We executed this financing to transform the financial outlook of the Company by fully funding our operating plan until we attain positive cash flow. The funds received at closing provide sufficient resources for us to build upon the early uptake and demand that we are seeing for Keveyis (dichlorphenamide), and to fund Recorlev (levoketoconazole) through potential regulatory approval and launch.”
→ Sienna Biopharmaceuticals has set terms for its upcoming IPO. The biotech hopes to sell shares at $14 to $16 each, looking to raise close to $70 million. The stock will trade as $SNNA.
→ Philadelphia-based Enterin has raised $12.7 million for its Series A. The biotech raised the cash from New Ventures III and some other unnamed investors. The biotech is working on Parkinson’s disease, with an ongoing Phase II study. Investigators are focused on the role of alpha-synuclein in disease progression.
→ Bloomberg offers an in-depth look at Boehringer Ingelheim, the secretive — and very private — German pharma company. Conservative to the core, Boehringer is presented as a company carefully looking to expand rather than being “gobbled up.”