Yesterday, Seattle-based VentiRx Pharmaceuticals put out the word that it had raised a new round of cash to back an ongoing mid-stage study of motolimod (VTX-2337), its TLR8 cancer vaccine, adding that the biotech had won fast-track status for the program. And today the company is following up with the news that it's partnering with the Ludwig Cancer Research and the Cancer Research Institute on a new immuno-oncology combo development effort with AstraZeneca's hot checkpoint inhibitor MEDI-4736.
Biotech investing is sizzling right now, and despite all the attention that the Boston hub gets, the Bay Area is still number one.
Arch Venture Partners has joined a lineup of top venture groups which has been making hay while the market sun shines on biotech IPOs. The VC has marshaled more than $400 million for its new investment fund--its eighth--that will now be available to back a new wave of cutting-edge life science companies, often starting from scratch.
Just 8 months after extending its last round with a $15 million raise, Houston-based Bellicum Pharmaceuticals has lured in a whole new group of backers to add $55 million to fuel its work. And the strategic financing allows the biotech to stare down a shot at an IPO while the window remains open.
Civitas Therapeutics has nailed down a substantial $55 million venture round aimed at getting its lead program for Parkinson's through Phase III and onto the market. The Chelsea, MA-based biotech is developing CVT-301, a fast-acting rescue formulation of levodopa that can be self-administered through an inhaler.
North Carolina's Sprout Pharmaceuticals put together a $15 million funding round, cash the biotech will use to make another go at FDA approval for its female sexual dysfunction treatment.
The first batch of Y Combinator-backed life science companies made their pitches at the incubator's Demo Day this week. And with one of the startups already bagging $4.5 million from angel investors, Y Combinator is optimistic it can continue to expand into healthcare.
Israeli biotech NeuroDerm has secured a $16 million investment to support its work on a wearable treatment for Parkinson's disease, working through a mid-stage study on its lead candidate for the neurodegenerative ailment.
Clinverse and Comprehend have raised a total of $30.1 million in separate Series C and B financing rounds, giving both companies the cash to push ahead with their expansion plans.
Well-funded biotech Dermira has landed a $51 million C round to support its late-stage dermatology pipeline, rallying some high-profile investors as it dials up R&D spending and builds out its management team.