South San Francisco's Iconic Therapeutics raised $40 million in Series C cash to support its work on treatments for eye cancer, moving toward clinical trials with its ocular melanoma program.
In the requisite flood of dealmaking that marks day one of San Francisco's annual J.P. Morgan Healthcare Conference, high-profile biotechs Juno Therapeutics and Moderna Therapeutics widened their R&D operations, while some smaller players signed deals and roped in cash to keep their projects moving.
Accelerator, among the financiers looking to kick-start a fledgling biotech hub in New York City, launched its second local project in the form of Lodo Therapeutics, a company working to turn natural products into novel therapies.
Shanghai-headquartered drug developer Zai Lab said it locked up more than $100 million in Series B financing, raising cash from a syndicate including OrbiMed and Sequoia Capital.
Roche has led a $175 million investment in Flatiron Health, the oncology software player set up by a pair of former Google employees in 2012. The deal, which also sees Roche sign up to use Flatiron's services, continues the Big Pharma's drive to connect its R&D teams to a broader pool of data.
The start of every new year comes with a traditional blast of biopharma deal news in the week ahead of the annual JP Morgan confab. Here's a snapshot of the dealapalooza going on right now.
Bavarian Nordic is turning to Nasdaq to bankroll the advance of its pipeline of infectious disease and cancer vaccines. The decision follows a breakout two-year period for the long-running company, in which alliances with Bristol-Myers Squibb and Johnson & Johnson raised investor expectations for its pipeline products.
Basilea Pharmaceutica has come out of talks with the FDA with a clearer idea of how it will design Phase III trials of its broad-spectrum antibiotic. But with its ambition to list on Nasdaq consigned to the scrapheap, Basilea is now steadfast in its desire to find a partner before kicking off the trials.
TiGenix is set to learn whether Wall Street will be more receptive to biotech IPOs this year than it was at the back end of 2015. The cell therapy specialist filed to list on Nasdaq just before Christmas, sparking a 20% rise in its stock price in Europe in the final days of the year.
Rodin Therapeutics recruited Biogen to help advance its novel approach to Alzheimer's disease in a pairing that could end with the Atlas Venture company getting bought for $485 million.