GlaxoSmithKline is backing another venture fund. The London-based drug giant has committed 17.5 million euros for a VC vehicle focused on rare diseases startups in Europe, building on its previous investments in venture firms on both sides of the Atlantic.
With an experimental therapy that could save "millions of lives," biotech startup XO1 Ltd. said it has raised $11 million in a Series A round of financing from Index Ventures.
Conatus Pharmaceuticals has joined a long line of drug developers seeking to go public. The San Diego-based company, which has a lead drug candidate acquired from Pfizer, revealed plans on Friday to complete an initial public offering of up to $69 million.
A Japanese biotech named Prism Pharma says it has raised $15 million to back clinical trials for a lead cancer therapy now under way at MD Anderson in Houston.
Less than 2 years after grabbing a $42 million A round, Dermira's team of biotech veterans has gone back to the venture well for $35 million more to advance a slate of dermatology treatments for acne and inflammatory skin conditions.
AbbVie has invested alongside a lineup of angel backers for the biotech startup's $11.4 million Series B financing. The new capital supports an early-stage clinical trial of Avaxia's oral anti-TNF protein therapy for patients with inflammatory bowel disease.
Bill Gates has added his high-profile name and dollars to the open-science movement, joining other investors in a $35 million financing round for the 5-year-old social network for scientists called ResearchGate.
Today the company disclosed a $41 million Series C financing amid plans for a Phase IIb study later this year for AKB-6548, which is among a potential blockbuster class of oral drugs that could serve as safer alternatives to EPO therapies for anemia patients such as Amgen's Aranesp.
Protagonist Therapeutics has found another major corporate investor to support its pursuit of new peptide drugs. Johnson & Johnson Development Corporation, a unit of J&J, led the Menlo Park, CA-based biotech group's $14 million Series B financing, and Eli Lilly's Lilly Ventures and Starfish Ventures returned for the latest round of funding after previously investing in Protagonist.
The Cambridge, MA-based developer of targeted cancer drugs sold about 5.9 million shares for $15 per share, hitting the high end of its proposed $13-$15 per share price range and exceeding previous fundraising targets for the offering.