San Francisco biotech bankroller Foresite Capital has closed a $300 million second fund, setting out to invest in drugmakers with a clear path to market amid some renewed optimism in life sciences venture capital.
For most biotechs, the huge cost of a late-stage diabetes drug program is enough to shut down any discussion about pushing through alone to an approval. Intarcia, though, says it now has the money needed to do just that for new technology billed as a prospective game-changer for one of the world's most prevalent diseases.
As more and more drugmakers set sights on China through partnerships and acquisitions, Sino-American biotech RuiYi is taking a more direct approach, raising $15 million in venture cash to develop novel drugs in the country, for the country.
Fresh off starting up its first clinical trial, New Haven, CT's Kolltan Pharmaceuticals has wrapped up a $60 million D round, filling its coffers as it prepares for the developmental long haul with a cancer candidate.
With its $16 million Series A, Lexington, MA's scPharmaceuticals has a plan to develop a wearable drug pump and succeed where its forebear failed.
KinDex Pharmaceuticals began in 2009 with a promising hypothesis: that the hops found in beer could be broken down and spun out into therapeutic molecules, regulating body weight and glucose metabolism. Now, after years of confirmatory lab work, the Seattle biotech is ready for a make-or-break Phase II trial, banking a $5 million round led by venture stalwart Polaris and planning to test whether its candidate can treat Type 2 diabetes.
LA-based C3 Jian has rounded up some players in the dental industry to provide a $60.5 million D round designed to get its lead therapy to prevent tooth decay through a mid-stage study while advancing a follow-up program produced with the biotech's platform technology.
Cambridge, MA's Sage Therapeutics has hauled in a $38 million Series C, convincing a who's-who of biotech investors to pitch in as it pushes forward with a portfolio of central nervous system treatments.
A pair of billionaire brothers helped Glycotope round up $76 million in venture cash to pay for Phase IIb trials of a pair of cancer drugs as well as a late-stage effort for a fertility therapy.
Thanks to some risk-accepting venture capitalists, optimistic public investors and compromising regulators, 2013 was a banner year for the drug development business. But while much of the industry's optimism has rolled on into the new year, early signs suggest 2014 may struggle to keep the pace.