Even a casual observer of the biotech industry would know that Cambridge, MA, has seen a booming biotech sector fueled with a steady stream of venture deals. And in a year when venture deals and dollars have been considerably constricted overall, the Cambridge hub has continued to hum with VC activity.
Pearl Therapeutics has grabbed a hefty $65 million venture round, enough to bankroll the launch of a key late-stage COPD drug program that--one way or another--will prove transformational for the biotech.
Just a few months after MEI Pharma ($MEIP) in-licensed a lead cancer program from S*Bio in Singapore, the drug developer put together $27.5 million in private financing to fuel an effort to push the HDAC inhibitor through a key mid-stage study. A pair of venture groups--Vivo Ventures and New Leaf Venture Partners--joined RA Capital Management and Three Arch Opportunity Fund in the raise.
The life sciences industry gained a blast of good news on the venture front today. The National Venture Capital Association and PricewaterhouseCoopers outlined a buoyant set of numbers for the...
The Kirkland, WA-based venture firm is among the casualties of a sinking venture industry, and its eventual demise means one less source of fresh capital for startups in biotech and other sectors.
Menlo Park, CA-based Longitude Capital has rounded up $385 million for a new life sciences investment fund, exceeding its initial goal of $325 million. That money will be reserved for biotechs and device companies that have shown promise in mid-stage development or nearing commercialization, targeting a three- to five-year time horizon on payoffs.
Affimed Therapeutics has scored 15.5 million euros ($20.1 million) more in venture cash for clinical trials of its drugs that hit two targets with one antibody to kill cancer.
The Wall Street Journal has put together its list of the top 50 venture-backed companies most likely to do great things. The good news is that Achaogen, a San Francisco-based antibiotics company, and Acceleron, the Cambridge, MA-based tissue- and muscle-building company, are both on the list.
Gone are the days when venture capitalists could hatch a biotech and take it public without much regard for the needs of Big Pharma. Public investors seldom buy into new biotech companies, and drugmakers have increasingly become early partners with VC firms and their young ventures. In the process, pharma has gained significant clout in the biotech VC game.
Google Ventures aims to invest in entrepreneurs who want to change the world, not only those working in Google's main business areas, but also pioneers in biotech. And the web giant's VC group plans to make life sciences a prominent area of its $1 billion in planned investments over the next 5 years, CNBC.com reported.