When Veeva Systems filed its initial public offering papers last month, the sales software provider was looking to sell at $12 to $14 a share. It revised its target to $16 to $18 in the days before the IPO, but this too proved to underestimate what people were willing to pay.
G1 Therapeutics, which was initially seeded by Hatteras Venture Partners to the tune of $600,000, says that the new funds will finance its IND work and point the company to proof-of-concept data on a drug designed to protect against myelosuppression--the loss of blood cells--during chemo. Hatteras Venture Partners and Mountain Group Capital contributed to the round.
Armed with promising data and the support of biotech billionaire Dietmar Hopp, Germany's immatics now has the cash to get its cancer vaccine past the goal line, closing a $46 million Series D that will carry it through Phase III.
The nonprofit diabetes research organization JDRF has teamed up with Boston-based technology development company PureTech to launch a startup creator aimed at speeding the development of new therapies for Type 1 diabetes.
California's Versartis is having quite a year, pulling down another $20 million in venture financing to get its once-a-month growth hormone through mid-stage trials.
Stockholm-based Pharmalink AB is banking $15 million from a C round designed to get one drug through a Phase IIb study and position another therapy for a pivotal trial of its own.
Three months after in-licensing a preclinical cancer drug from Array BioPharma ($ARRY), the upstart biotech Loxo Oncology announced that it has a $33 million Series A lined up to fund the work ahead.
When Johnson & Johnson does an R&D event, they often like to make a flourish--walking the walk as they talk the talk. That high-impact style was on full display in London today as the pharma giant spearheaded a $42 million venture investment in an up-and-coming antibody developer, inked one collaboration pact on immune-mediated diseases and a second vaccine research partnership that will connect with a pair of biotechs and a research institute.
Amid renewed optimism in biotech venture capital, Seattle stalwart Frazier Healthcare has pulled down a $377 million fund, surpassing its goal as it scouts for the next wave of emerging drug developers.
Cydan, an orphan-drug accelerator bankrolled by New Enterprise Associates and Pfizer Ventures, has secured another $10 million in venture cash.