Frazier Healthcare has grabbed commitments of $281.8 million toward a targeted $300 million for the venture firm's seventh fund, according to an SEC filing. The firm seeks to raise half as much as the $600 million it secured for its previous fund launched in 2008, yet the crew at Frazier have done well enough to survive a serious drought fundraising for VC outfits.
With its lead drug poised to begin a Phase IIb study for acute heart failure, Trevena grabbed a $30 million investment from Forest Laboratories, which also picked up an option to snag global rights to the biotech's lead therapy with a deal that includes a $430 million potential payout.
A little more than a year ago, the startup crew at Lumena Pharmaceuticals was based in North Carolina and working on a new drug for diabetics. But things have changed. The company moved to San Diego, refocused its lead program on a rare liver disease and today announced that it had rounded up $23 million in Series A cash from a trio of venture groups.
The company, which includes Genentech legend Art Levinson on its board, has been engaged in basic scientific research for the past 5 years, with a special focus on cardio/metabolic work.
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.
After gaining its lead asset from GlaxoSmithKline, AltheRx Pharmaceuticals has made a series of leadership changes through a restructuring plan that features a $15 million investment led by Becker Ventures.
Symphogen has replenished its coffers with 41 million euros ($53.7 million) as the Danish biotech makes progress with next-generation antibody drugs for treating cancer. The latest capital infusion adds to 100 million euros ($130.9 million) that the company previously raised in 2011 for the round, giving the company about 100 million euros in cash as of today, according to the group's press release.
Houston-based Capital Royalty has pieced together an $805 million fund to back a new package of loans and royalty deals with biotechs, pharma and other healthcare companies looking for some "alternative" sources of financing.
A day after striking the latest in a series of its special "channel" collaborations, Intrexon has reloaded its bank account with a fresh $150 million infusion of cash, with significant added contributions from billionaire founder R.J. Kirk and his venture fund, Third Security.
After a period of revamping a venture strategy gone wrong, Atlas Venture has come out today with news about an oversubscribed 9 th fund of $265 million. It's a rare comeback story in a VC industry that is suffering from an overall lack of capital to fuel startups in biotech and other high-risk-and-reward sectors.