Merus has shaved months off the date on which it expects to release data from a Phase I/II trial of its lead bispecific antibody in HER2-expressing solid tumors. The Dutch immuno-oncology player provided the new timeline in an update to the paperwork it filed ahead of a planned Nasdaq IPO.
Mapi Pharma has set the terms for its latest crack at listing on Nasdaq. The biotech, which set terms on its first IPO attempt back in April 2014, is aiming to round up around $50 million (€46 million) to bankroll development of its once-a-month version of Teva's blockbuster Copaxone.
Billionaire entrepreneur Patrick Soon-Shiong's NantCell raised $57.3 million in equity to fund its work on treatments that use the immune system to fight cancer, becoming one of the most well-funded companies in its founder's constellation of biotech endeavors.
Federated Investors has bought an 8.6% stake in arGEN-X. The deal sees arGEN-X sell shares worth €16 million ($17.5 million) to the major U.S. asset manager, giving it additional financial firepower at a time when it is closing in on clinical proof-of-concept trials for a clutch of key drugs.
University College London (UCL) is getting into the venture capital game. The university, which has spawned a host of biotechs, has rounded up £50 million ($71 million) from the European Investment Fund and Imperial Innovations to enable it to financially support spin out companies.
Marlborough, MA's Theracos raised $25 million to support its work on a safer version of a common treatment for Type 2 diabetes.
Syros Pharmaceuticals raised $40 million in equity to push forward with its pipeline of genetically targeted drugs, securing the cash it needs to take its top prospect into Phase II.
The two most commonly watched indexes of biotech stocks have each fallen more than 35% from their July peaks, battered down by a pervasive sense that the frothy days of the biotech boom, when becoming "the Amgen of" anything seemed at least glancingly possible, have passed. And that sentiment permeated this year's J.P. Morgan Healthcare Conference.
South San Francisco's Iconic Therapeutics raised $40 million in Series C cash to support its work on treatments for eye cancer, moving toward clinical trials with its ocular melanoma program.
In the requisite flood of dealmaking that marks day one of San Francisco's annual J.P. Morgan Healthcare Conference, high-profile biotechs Juno Therapeutics and Moderna Therapeutics widened their R&D operations, while some smaller players signed deals and roped in cash to keep their projects moving.