Massachusetts' Taris Biomedical is getting back into R&D after flipping its lead asset to Allergan in a $587.5 million deal, raising $32 million to advance new treatments for bladder disease.
Advanced Inhalation Therapies (AIT) has become the latest biotech to push ahead with plans to float on Nasdaq in the face of mounting evidence that investors are cooling on such offerings. The company is hoping its mix of Wall Street experience in the C-suite and upcoming clinical trial data readouts will make it an attractive proposition to investors.
Strongbridge Biopharma has struggled through choppy conditions to complete a $25 million (€22 million) listing on Nasdaq. The rare disease player pulled off the dramatically downsized IPO by relying heavily on the support of existing shareholders, who snapped up 80% of all the shares sold.
Less than two weeks after Shield Therapeutics pulled the plug on its £110 million ($170 million) IPO, Acacia Pharma has backed away from its plan to raise £150 million by listing on the London Stock Exchange.
Biotech venture capital investments remain on pace for a record year after racking up another $2 billion in the third quarter, but some current shakiness in the public markets could change the outlook for early-stage drug developers looking to fill their coffers in the future.
Over the years the partners at Third Rock have whipped up a wave of biotech startups focused on new cancer drugs, gene therapies, heart disease, gene editing and much, much more. Now they're tackling new therapeutics for hearing loss, convinced that this is a prime time to create a new company from the ground up in a field that's been long neglected by drug developers.
Pennsylvania's Galera Therapeutics closed a $37 million Series B financing to advance its treatment for a common side effect of radiation therapy, bringing some big-name investors to the table.
Roche Venture Fund has contributed to a big day for another Spanish biotech. Minoryx Therapeutics is the latest of the country's biotechs to cash in, tapping Roche's VC unit and others for €19.4 million ($21.7 million) to move its treatment for a rare neurodegenerative disease into clinical trials.
A new company spun out of Harvard University's Wyss Institute raised $5.15 million in Series A cash to develop a technology its founders say can generate images of unprecedented resolution, creating a new avenue for diagnostics and drug discovery.
San Diego upstart Patara Pharma closed a $26 million Series A to support its work on a novel treatment for chronic coughing, working through a pair of Phase II trials on its lead candidate.