Cosmo Pharmaceuticals is pushing ahead with plans to spin out its dermatology assets and list the resulting company on the SIX Swiss Exchange. To get the project underway, Cosmo and its shareholders have clubbed together for a €49.9 million ($56.5 million) capital increase, giving the spinout the cash it needs to wrap up a Phase III trial of its lead candidate.
Biotie Therapies has become the latest European biotech to ratchet up its Nasdaq IPO plans after gauging interest in the offering. But proceeds for the CNS specialist are due to stay at the same level, with the 12% rise in the overall haul coming from UCB's decision to sell its stake for around $7.7 million (€6.8 million).
A few months after raising $357 million to back their new biotech investment group, the ex-Elan team at Malin has helped place a $67 million bet on Melinta Therapeutics, a late-stage antibiotics developer now taking a second stab at a pivotal Phase III study of their lead program.
Clarus Ventures announced this morning that it had raised $500 million for its third biotech fund, Clarus III, easily beating its goal of $375 million. That money will now be devoted to new investments ranging from $15 million to $50 million for companies focused on breakthrough--or at least best-in-class--drugs or new R&D risk-sharing projects with biotechs and pharmas.
Atlanta-headquartered biotech Celtaxsys raised $45 million in Series D cash, plotting to kick off a Phase II study for its lead drug, an anti-inflammatory treatment for cystic fibrosis.
Atlas Venture's antibiotics upstart Spero Therapeutics has rounded up a $30 million B round, banking enough cash to steer its in-house pipeline to the clinic with some in-licensed technology while shepherding its Roche-partnered program through an IND.
It seems not a month goes by without billionaire entrepreneur Patrick Soon-Shiong striking a deal to expand his sprawling family of cancer-focused startups. This time, the recently launched NantCell has raised $75 million in equity, pressing forward in immuno-oncology with some in-licensed treatments.
Biotech investor SV Life Sciences is out raising a 6th fund, looking for $400 million as it gears up for another round of bets on startups.
Mapi Pharma has closed a $10 million (€9 million) Series A round to finance mid-phase trials of its once-a-month version of Teva's blockbuster multiple sclerosis drug, Copaxone. The round follows two aborted attempts to raise cash in a Nasdaq IPO.
Cambridge, MA-based Pronutria, a graduate of Flagship's VentureLabs that recently attracted some high-profile R&D talent, has put the finishing touches to a $39 million C round designed to advance a pipeline of therapeutic-strength amino acid drugs in the clinic.