Foundation Medicine is touting some promising new data highlighting the utility of its signature diagnostic technology for blood cancers, news that will help the newly public Massachusetts startup maintain development and commercial momentum.
A pair of scientifists with deep roots in the Alzheimer's field is partnering up with two high-profile antibody development experts with a well-developed platform technology to launch a new biotech with ambitious plans to build a pipeline of new medications to combat the memory-wasting disease. And they're getting $10 million in seed cash from two marquee venture groups to get everything going.
A group of gene therapy experts with a pivotal-stage therapy that's already posted promising early-stage data is being spun out of The Children's Hospital of Philadelphia. The startup biotech is launching with a $50 million funding commitment.
First-time venture deals in biotech cratered to a 17-year low in the first three quarters of 2013, but that doesn't mean startups are starving. As The Burrill Report points out, despite the VC drought, about a quarter of all equity deals in that period went into Series A rounds, meaning early-stage companies are getting creative and nailing down alternative funding sources.
G1 Therapeutics, which was initially seeded by Hatteras Venture Partners to the tune of $600,000, says that the new funds will finance its IND work and point the company to proof-of-concept data on a drug designed to protect against myelosuppression--the loss of blood cells--during chemo. Hatteras Venture Partners and Mountain Group Capital contributed to the round.
The nonprofit diabetes research organization JDRF has teamed up with Boston-based technology development company PureTech to launch a startup creator aimed at speeding the development of new therapies for Type 1 diabetes.
Canadian startup ChipCare nailed down nearly $2 million in angel funding to advance a handheld analyzer that could boost access to everything from HIV testing to cancer diagnostics.
Cambridge, MA-based Visterra has finished assembling its preclinical puzzle for a universal influenza therapy, reviewing how its lead engineered antibody thwarted a pair of lethal viruses--still raising alarms around the world--in a mouse study.
In a gamble on making oral version of typically injected therapies, Google Ventures has joined forces with InCube Ventures and VentureHealth to fund a Series B round for Rani Therapeutics. And with its lofty oral-delivery goals, San Jose, CA-based Rani is tackling the kind of big idea in biotech that Google's venture fund likes to bankroll.
A frequent partner of small biotech companies, Celgene has tapped Adimab to discover therapeutic antibodies against a slate of undisclosed targets. Separately, Lebanon, NH-based Adimab has partnered with Chinese biotech company Innovent to discover antibody drugs.