China venture group BVCF stepped in to lead the round, supported by existing investors Morningside Group and Devon Park Bioventures. They're backing the parallel development of MRX-I, an oral oxazolidinone antibiotic targeting infections triggered by multi-drug resistant Gram-positive bacteria, in the U.S. and China.
Less than a year after NextWave Pharmaceuticals founder Mahendra Shah saw Pfizer close on its $680 million deal to buy the company, Shah has made a significant start to gathering $30 million for a new biotech company aiming at a big new treatment for lower back pain.
Less than a year after striking a $1.1 billion antibody development deal with French drugmaker Servier, the Rockville, MD-based biotech has snagged a $10 million milestone for dosing the first patient in an early-stage study of their tumor-targeting drug MGA271.
OrbiMed Advisors, an active biotech investor, is apparently scaling down plans for a new pan-Asian fund. OrbiMed Asia filed documents with the SEC for a proposed $300 million fund, well under the $500 million its partners were discussing back at the beginning of the year.
After assembling a whopping $175 million financing deal this spring, Ophthotech has filed paperwork with the SEC to secure up to $85 million more in an initial public offering.
Throwing its hat into a now-cluttered ring, Bind Therapeutics--a biotech company that emerged from the prolific lab of MIT's Robert Langer--has filed plans for an IPO to raise a bit more than $80 million.
A week after Cleveland's nascent biotech accelerator BioMotiv bumped its financial reserves to $46 million, Torrey Pines Investment has stepped in to offer a $20 million commitment and close ties to the Russian drug development industry to back a joint effort to spawn new translational drug efforts around the globe.
Just a few weeks ago Vaxart reported positive data from a Phase I study of its H1N1 flu vaccine in tablet form.
A 9-year run for VLST has ended. The Seattle biotech outfit has peddled assets to undisclosed buyers for undisclosed terms and shut its doors for good, Xconomy 's Luke Timmerman reported.
Apexigen, a Burlingame, CA-based company that was spun out of Epitomics three years ago, says that much of the money will be used to work on an in-house cancer immunotherapy dubbed APX005.