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.
Third Rock Ventures is committing $47 million to launch a startup biotech focused on cancer immunotherapeutics, one of the hottest fields in drug R&D today.
Following a well-defined trail of venture groups into late-stage investing, San Francisco-based Foresite Capital Management says it has wrapped a $100 million fund that will be heavily focused on the most disruptive and most promising late-stage technology it can find in biotech, genomics and diagnostics, among other healthcare fields.
The startup biotech Blend Therapeutics rang in 2012 with seed cash and will now close out the year with a fresh injection of $16 million in B-round bucks budgeted to take this startup--one of the latest from the prolific scientist Robert Langer--right to the threshold of clinical development.
The venture players at Apple Tree Partners have in-licensed a late-stage opioid addiction therapy from Titan Pharmaceuticals in a $305 million deal that's short on upfront cash and long on a new strategy to build up a portfolio of life sciences companies with the help of a pair of industry veterans.
River Vision Development has wrapped up a $17 million first-round financing for a therapy that combats an illness that causes loss of vision and eyes to bulge from the socket. The lead backers include GlaxoSmithKline's venture unit SR One and Lundbeckfond Ventures.
Bucking weak investor interest in the life sciences, Paris-based Sofinnova--a longtime player in biotech venture circles--has put together a $312 million fund that will be entirely dedicated to the life sciences.
The Cambridge, MA-based biotech's CEO tells FierceBiotech that the company has topped up its accounts with $13 million in fresh venture cash from its consortium of A-list backers. Read more >>
Instead of taking assets to proof-of-concept in a fast march through the clinic and then striking deals for their programs, as originally planned, Flexion's top execs have seized on the success of their clinical-stage osteoarthritis drugs and plan to stay focused on their pipeline--pursuing late-stage work, perhaps all the way through Phase III.