Astellas and a pair of venture companies have joined forces to launch a spinout virtual biotech which will pick up mid-stage research work on an experimental therapy for nocturia.
Public biotech companies around the world stayed on a healthy pace last year, boosting top and bottom-line revenue together and extending a solid improvement in the industry's financial performance into its third year, according to Ernst & Young's annual checkup on the numbers.
Ask any biotech exec in the business of drug and device development about the funding environment these days, and you'll most likely hear the word "tough" inside of three seconds. The...
With licenses to breaking discoveries from labs affiliated with MIT and Harvard, Syros Pharmaceuticals has raised $30 million in a Series A round of financing from top venture firms.
Closing in on the selection of its lead cancer program, San Francisco-based Cleave Biosciences has welcomed the deep-pocketed player New Enterprise Associates to its list of venture backers and topped up its Series A with a $10 million investment in its early-stage drug research work.
Third Rock Ventures has established its third biotech fund in 6 years, bringing in a haul of $516 million for one of the most active groups of early-stage biotech investors in the world. The new fund, which brings the total it's raised to a whopping $1.3 billion-plus, will be used to launch another 16 or so drug developers.
We've seen plenty of acrimony from the biotech communities in the U.S. and Europe over the insufficient venture capital dollars for young drug developers. Read more >>
Talk about bad timing. Just days after San Diego-based Ambit Biosciences stepped up to confidently announce its second try at an IPO, its partner Astellas unceremoniously dumped its $390 million partnership on a portfolio that includes the biotech's lead development program.
Miami-based Brickell Biotech grabbed $7 million in a new venture round led by a South Korean cosmetics company to back its work on new chemical entities for dermatology.
Just about every biotech investor out there has been looking for just the right recipe of money, time and multiples to justify the high risk involved in betting on drug development. The decade-long cycle in search of a 10x or better return is in distinct disfavor now, with investors looking for tighter timelines and better odds in exchange for smaller but more predictable payoffs.