Overcoming the challenges of creating an oral peptide drug aimed at irritable bowel disease is the business model behind Protagonist Therapeutics, a Milpitas, CA-based biotech that is celebrating a new, $40 million round designed to pay for the early-stage clinical work needed to prove its drug candidate can work in humans.
In another demonstration of the big bets being made on reengineering T cells to attack cancer, Oxford, U.K.-based Immunocore has come up with a monster $320 million venture round designed to push the pipeline well past positive early stage data for its lead therapy.
Danaher has signed a letter of intent to buy Israeli computer-aided imaging player Applied Spectral Imaging for $30 million, according to Globes. The deal would give acquisition-hungry Danaher a way into the market for hardware and software to bolster the imaging capabilities of research labs.
Clarus Ventures has unveiled a lead role in funding a startup, San Francisco-based Nuvelution Pharma, that has an eminent group of Big Pharma veterans on the board as it sets out to ink a few clinical trial deals with the industry.
Biotech billionaire Patrick Soon-Shiong is pumping $71 million into Conkwest as it preps a move to go public in a $172.5 million IPO.
Cambridge, MA's Seres Therapeutics pulled off an above-its-range IPO, grossing about $134 million to bankroll its work on drugs that change the weather in the gut to treat disease.
The mayor of London has come up with a scheme to bridge the financial chasm between the U.K. and U.S. biotech hubs. Officials have called Eli Lilly, Pfizer and JP Morgan to a meeting to discuss the plan, which entails creating a £10 billion ($15 billion) fund to invest in drugs across the development spectrum, The Financial Times reports.
Canadian biotech Clementia Pharmaceuticals raised $60 million in mezzanine cash to help it fashion a once-failed Roche drug into a promising treatment for a rare disease.
La Jolla, CA-based Avalon Ventures led a $17 million A round for Ankasa Regenerative Therapeutics, handing over an $8.5 million tranche to an upstart biotech working on new technology for reactivating stem cells and tissue regeneration.
As CEO of Sanofi, Chris Viehbacher was always an outspoken champion of the innovation that could be found in biotech, even as it remained an elusive goal inside the Big Pharma. He backed up that belief with major partnerships with the likes of Regeneron and Alnylam. And now, 8 months after getting booted out of Sanofi by an angry board, he's getting back in the hunt for the best of biotech and the life sciences industry as the head of a $2 billion healthcare investment fund set up by Swiss billionaire Ernesto Bertarelli.