Biotech venture capitalists have increasingly embraced the virtual model, seeding companies with promising assets, tiny staffs and a willingness to outsource. Now, as Reuters notes, a recent Big Pharma buyout signals that the idea is gaining steam among larger players.
New Jersey biotech Edge Therapeutics pocketed $72.5 million in a series of funding rounds, piling up cash as it prepares to take its lead treatment for brain injuries into Phase III development.
When U.K. investment guru Neil Woodford outlined his initial plans for a new, publicly traded tech fund that would seek out up-and-coming biotechs for its portfolio, he pegged the fund as a $300 million player with an option to jump to $750 million if it proved popular.
Neil Woodford has weighed into the debate over whether biotech is in a bubble or sustainable bull market. The veteran fund manager drew a distinction between what he sees as the bubbly multiples of some publicly traded U.S. stocks and the bargain-basement valuations of unquoted British biotechs.
The veteran Alzheimer's researchers at Alzheon believe their novel treatment for the disease has a chance to come through where so many others have failed, raising $10 million amid a "perfect storm" for the company's top prospect, the CEO said.
A transatlantic group of venture investors crowded into a $120 million venture round for Vienna-based Nabriva Therapeutics, offering enough cash to get started with a Phase III study for a new antibiotic.
Nancy Stagliano has a very clear idea of how to plot a course for True North. Eighteen months ago the biotech CEO raised $30 million for iPierian and split its assets with the newborn True North Therapeutics. Seven months later Bristol-Myers Squibb snapped up a reorganized iPierian in a $725 million deal. Then in swift succession Stagliano raised new funds, beefed up her staff with a key hire and is now banking $35 million in a fresh venture round that will take True North into the clinic with its lead therapy for rare diseases while positioning its follow-up program for human studies.
High-profile U.K. investor Neil Woodford is putting more chips on the controversial Northwest Biotherapeutics, betting another $40 million on the company as it works through Phase III with a cancer vaccine.
Pharma heavyweight Novartis has stepped in to help bankroll Berkeley, CA-based Caribou Biosciences, one of the upstart leaders in the race to develop the cutting-edge CRISPR-Cas9 gene editing technology.
New York City's nascent biotech investment fund is ready to get rolling, recruiting some venture capital partners to join Eli Lilly, Celgene and GE Ventures with hopes of pouring $150 million into the local life sciences startup scene.