Swiss biotech startup Covagen landed a new round of venture backing today that could reach up to $63 million, enough to cover a Phase II program for its lead anti-inflammatory drug along with some follow-up work in oncology.
California's PaxVax has picked up $22 million in venture cash to get an oral cholera vaccine into the FDA's hands, working its way through late-stage trials for the single-dose treatment.
Menlo Park, CA's 5AM Ventures has pieced together a fourth fund, roping in $250 million with its eye on a new generation of promising drug developers.
Today, Cambridge, MA-based Zafgen said that it is banking $45 million from a Series E round, adding a group of new investors that includes RA Capital Management, Brookside Capital, Venrock, Alta Partners, an undisclosed blue chip investor and a private investor.
Once-rival researchers from the Fred Hutchinson Cancer Research Center and Memorial Sloan-Kettering Cancer Center have decided to join forces and dive into drug development, hauling in a massive $120 million Series A round to advance "smart" T cells that spur an immunologic attack on cancers.
Three big players in the life sciences industry--Celgene, Eli Lilly and GE Ventures--are chipping in to help fund a $100 million venture fund that will be used to launch up to 20 new biotech companies in New York City, adding some fuel to a small but growing fire of R&D efforts in the Big Apple.
Seattle-based Blaze Bioscience has rounded up $9 million in venture cash from a wide circle of angel investors willing to back the biotech's push into the clinic with its first "tumor paint" product.
As Visterra readies an influenza antibody for Phase I trials, the Gates-foundation-backed biotech announced today it's hired veterans of Mascoma and Concert Pharmaceuticals and licensed an antibody to treat the dengue virus out of the MIT lab of its co-founder, Dr. Ram Sasisekharan.
While the venture capital market remains sluggish, biotechs are signing ever-richer licensing deals with Big Pharma backers, and the average value of upfront payments jumped 37% across the industry last quarter, according to a report, paced by some lucrative deals in the earliest stages of development.
Three of the industry's leading discovery-stage venture groups have come up with a $43 million commitment to back a crew of marquee thinkers in the genomics field to launch Editas Medicine, a biotech exploratory vehicle that will set out to pioneer a new field of drug development.