Remedy Informatics has some new funds to fuel its expansion. The Salt Lake City-based biomedical informatics company has pulled in about $6 million from Merck's ($MRK) Global Health Innovation Fund, winning Big Pharma support to grow its operations and development of its informatics system for healthcare and life sciences research.
Florida's fledgling biotech community has picked up boasting rights to a big venture round for one of its University of Florida spinouts. Applied Genetic Technologies, one of a growing group of upstart gene therapy biotechs, nabbed a $37.5 million round from A-list investors to back a leading mid-stage orphan product and a slate of earlier-stage programs.
Intarcia Therapeutics this morning unveiled a whopping $210 million in fresh financing to back its Phase III program for ITCA 650, which aims to be the first once-yearly, injection-free GLP-1 therapy. And the biotech says it will join the big migration to the thriving Boston hub, relocating its headquarters in California while keeping a manufacturing site in Hayward.
Some 19 months following his abrupt departure from the helm at Novavax, Rahul Singhvi is back with a new start-up with plans to develop a trio of armed-antibody cancer drugs.
Fresh from raising $74 million in an IPO, Durata Therapeutics is shaking off the dust of Morristown, NJ, and setting a course for Chicago while making big plans for its late-stage antibiotic for skin infections.
Pearl Therapeutics has grabbed a hefty $65 million venture round, enough to bankroll the launch of a key late-stage COPD drug program that--one way or another--will prove transformational for the biotech.
With a lead candidate in development for a big cardio market, Cardioxyl Pharmaceuticals has wrapped up a $28.1 million round of equity financing, according to an SEC filing this week. The disclosure follows years of work on a candidate in mid-stage development for acute decompensated heart failure.
The Bill & Melinda Gates Foundation has stepped up with another equity investment in a biotech company, this time making a major contribution to a $13 million Series A add for a startup aiming at a universal preventive as well as therapeutic approach to influenza. Omega Funds also joined the venture top-up, bringing the first venture round for Cambridge, MA-based Visterra to $26 million.
Just a few months after MEI Pharma ($MEIP) in-licensed a lead cancer program from S*Bio in Singapore, the drug developer put together $27.5 million in private financing to fuel an effort to push the HDAC inhibitor through a key mid-stage study. A pair of venture groups--Vivo Ventures and New Leaf Venture Partners--joined RA Capital Management and Three Arch Opportunity Fund in the raise.
Venture investors have loosened their purse strings yet again for Ambit Biosciences. The San Diego-based biotech scored $25 million of a $50 million round with the primary purpose of funding development of its lead candidate for treating acute myeloid leukemia. The round comes ahead of the company's anticipated unveiling of data from a mid-stage trial of the compound next month at the American Society of Hematology (ASH) meeting in Atlanta.