Two years after Michael Yeadon and a close-knit group of Pfizer investigators managed to grab some of the pharma giant's anti-inflammatory assets on the way out the door at Sandwich, they've drummed up a $33 million B round for their biotech from some U.S. and European investors. And now they're set to launch a midstage clinical program to help determine the value of what they took with them when launching Ziarco.
New Haven, CT's Trevi Therapeutics banked another $11 million in venture cash, bringing its B round to $26 million and giving it the cash it needs to complete a pivotal trial for its top prospect.
Tolero Pharmaceuticals has pocketed a second tranche of its Series B funding round, netting $22.4 million in total as it prepares to take its expirimental marrow cancer treatment into late-stage development.
Having spent the past 10 months weighing up the merits of a separate listing for its IT subsidiary NNIT, Novo Nordisk has decided it needs to wait a little longer before pulling the trigger.
The band behind FerroKin BioSciences, a pioneer of the virtual biotech model, has gotten back together to take a stab at epigenetics, raising $26.5 million from some A-list investors to develop new treatments for orphan diseases.
Chris Liang had already forged a compelling profile in drug development when the newly formed Scripps Florida recruited him as head of chemistry back in 2004. Liang, who emigrated from China in 1984 to attend grad school at Princeton, had worked on Sutent early on in his career. He went on to found the first Scripps Florida spinout--Xcovery--with Genzyme founder Sheridan Snyder. And today, Liang put out the word that Xcovery has inked its first big deal for the little biotech with a virtual staff.
Advent Life Sciences is joining the parade of new biotech funds debuting this year. Based in London with an investment strategy that reaches into Europe and the U.S., Advent's second dedicated life sciences fund has come up with $235 million to invest in about 15 early- to midstage companies in the next few years.
Watertown, MA's Syros Pharmaceuticals has banked a massive $53 million Series B to support its innovative approach to treating cancer, targeting the genetic switches responsible for tumor growth.
While there is a well-established path from seed funding to exit for web startups, genomics plays with big ambitions require investors with deep pockets and an appetite for risk. Bryan Johnson seemingly has both and has set up a $100 million fund with the objective of turning "crazy" ideas into "viable" businesses.
Finland's Forendo Pharma has pulled in €12 million ($15.2 million) to advance its treatment for a painful uterine condition, drawing the support of a few major drugmakers.