In the 10 months since Mary Szela took charge of Melinta Therapeutics--the antibiotics developer once known as Rib-X--the CEO has built up an experienced team of R&D executives. Now she also has the money needed to wrap an ambitious late-stage program for their lead product while preparing to usher a new set of assets into the clinic.
North Carolina's Argos Therapeutics raked in $45 million in a below-its-range Wall Street debut, sticking a so-so endcap on an otherwise colossal week for biotech IPOs in which drug developers banked more than $500 million.
Clarus Ventures is raising $375 million for a third fund, building up its war chest to bankroll new bets on drug and med tech outfits.
A fledgling biotech in Norway's notable cancer drug cluster has garnered about $12.5 million to back its early-stage efforts on a new therapy for acute myeloid leukemia and non-small cell lung cancer.
Purdue University is lining up a $12 million evergreen fund to help launch life sciences companies based on its in-house discoveries, planning to match the investments of third-party backers and speed up spinoffs.
Draper Fisher Jurvetson has closed its 11th venture fund with $325 million. The firm has placed a few bets in the life sciences field, including its support for NanoString's diagnostics work.
New Enterprise Associates has stepped up to help with a $14 million A round designed to get Austin, TX-based startup Lumos Pharmaceuticals in the clinic with a new therapy for an autism spectrum disorder characterized by severe cognitive impairment.
Fast on the heels of two big biotech IPOs at the end of last week, Renaissance Capital is tracking 9 more life sciences companies looking to go public this week in a fresh burst of new offerings that could threaten to glut the market. Altogether, the developers have set their sights on raising roughly $500 million in a matter of days.
With the help of Syncona, the Wellcome Trust's venture arm, Oxford University spinout NightstaRx has $20 million and a plan to develop gene therapies for degenarative eye conditions.
The big question at the beginning of this year was whether investors would continue to eagerly buy up shares offered in new biotech IPOs, continuing the burst of new offerings that injected billions of dollars into the industry last year. As of today, the answer--for at least a few select biotechs--is a boisterous "yes."