The biotech is also planning to launch studies for SNC-102 in Tourette syndrome and post-traumatic stress syndrome. Accellient seeded Synchroneuron up to its $6 million Series A from Morningside.
Venture investing in the biotech sector hit the $1.1 billion mark in the first quarter of the year--a surprisingly strong showing for what has generally been a quiet season in the U.S. industry.
San Francisco biotech bankroller Foresite Capital has closed a $300 million second fund, setting out to invest in drugmakers with a clear path to market amid some renewed optimism in life sciences venture capital.
Anyone looking to start a biotech company should pay close attention to this list. Venture groups, entrepreneurs and increasingly Big Pharma have been concentrating their money and their attention in a few key places, only occasionally straying from the beaten path when funding a high-risk drug development effort.
With IPOs still booming, follow-on financings sizzling and venture capital rolling in at a steady pace, the biotech industry has been stocking up on billions of dollars in cash.
I've been in the U.K. for a few days now, grabbing some meetings along the way after discussing valuations in biotechnology with a group of One Nucleus members at The Babraham Institute near Cambridge. And I've been thinking about this question a lot this week.
The antibody upstart Igenica has rounded up $14 million in venture cash to move its lead drug into the clinic. The Column Group, 5AM Ventures, OrbiMed and Third Rock Ventures all participated in the round.
A little more than a year after launching with a portfolio of 6 early-stage assets from Amgen, Atara Biotherapeutics has rounded up $38.5 million in the first close of its Series B round, fueling its drive into Phase II with a lead asset while teeing up another program for its entry into the clinic.
Amgen, Celgene and Eli Lilly joined forces with some prominent venture players to back a $26 million round for Sutro Biopharma, a San Francisco-based biotech which has been garnering some careful scrutiny for its work on antibodies.
As biotech venture funding plods along at a middling pace, A-list investor OrbiMed has bagged $735 million for its 5th fund, cash earmarked for life sciences companies across all stages of development.