Vertex Pharmaceuticals has made a major difference--and a lot of money--in cystic fibrosis with its targeted treatments, drugs tailored for patients with particular genetic defects. But upstart Spyryx Biosciences believes it may have discovered a way to treat all forms of CF with a single therapy, and the company raised $18 million in Series A cash to advance the idea.
U.K. biotech Kymab has added Neil Woodford and the newly launched Malin to its who's-who syndicate of investors, adding $50 million to its B round and accelerating its pipeline.
In the little more than two years since its launch, Symbiomix Therapeutics has successfully navigated a midstage study for a sole-asset antibiotic, positioning it for a Phase III start in Q2. And now it's ready to jump out of stealth mode as it prepares for a make-or-break move for an anti-infective that has been in use for years--just not in the U.S.
Doubling down on its in-house startup academy, biotech VC stalwart Flagship Ventures has recruited a trio of big-name corporate sponsors to lend their expertise to its next class of seedlings, expanding its focus well beyond traditional drug development.
Mirna Therapeutics hauled in a $41.8 million D round to get its RNA treatment into Phase II trials, assembling a big-name syndicate to back its ambitions in immuno-oncology.
The UK BioIndustry Association has laid out its strategy for turning the United Kingdom into a biotech cluster to rival those in California and Massachusetts. And while the plan has many components, a comparison of the three regions today shows the main area the U.K. needs to improve: financing.
The cascade of venture cash into CRISPR-Cas9 startups is continuing with no end in sight, despite a patent brawl brewing over who owns the technology. Today it's CRISPR Therapeutics' turn at the venture well, drawing $64 million in new VC cash that will fund a company that's based in Basel with deep and growing roots in Cambridge, MA. The new funding brings its total haul to $89 million, with GlaxoSmithKline's SR One and Celgene leading the way.
SciFluor Life Sciences, a graduate of the Allied Minds startup factory, raised $30 million to get its fluorine-based candidates into clinical development.
Demonstrating once again that gene therapy research has emerged as one of the hottest fields in biotech, Cambridge, MA-based Dimension Therapeutics has rounded up a $65 million B round from a slate of new and existing investors. Adding in Bayer's $20 million upfront for signing on as a partner last summer along with its A round, Dimension has now banked more than $100 million for its R&D activities. The only question now is whether it will wait long to file an IPO.
With crossover investors still crowding into the biotech field to help launch a wave of new IPOs, the industry recorded $1.7 billion in new venture funds in the first quarter, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.