EuroBiotech Report: Woodford’s loss, BioInvent’s major failure, Pulmagen wants a partner, Amcure’s raise, and Bayer/Versant launch upstart

There was some good news for Pulmagen and Amcure, but investor Neil Woodford and BioInvent have had a week to forget

Welcome to the latest edition of our weekly EuroBiotech Report. This week we saw the halo slip a little further from British investor Neil Woodford as he signalled a backing away from his investments in controversial biotech NW Bio after taking a bath on the company. BioInvent hit major trouble after having to can its leading phase 2 myeloma med a month after the FDA told it to stop dosing patients. British biotech Pulmagen had more luck in its midstage asthma test, but now wants a partner for phase 3. Just two months after treating its first patient, German KIT spinout Amcure has raised €6 million in a Series B for its cancer candidate AMC303. Bayer and investor Versant have joined forces to launch a new stem cell biotech with a beefy $225 million Series A.

1. After Woodford takes a bath on NW Bio, British investor decides to towel off

Neil Woodford, who has seen his light dim in 2016 as a “star fund manager”, signalled in a brief update with The Times that he was to stop investing in the moribund biotech NW Bio after seeing his original investment decimated.

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2. BioInvent back to drawing board as it pulls trial of lead drug for myeloma

Swedish biotech BioInvent's worst fears have been realized after it was forced to terminate a trial of its lead drug—multiple myeloma therapy BI-505.

3. Pulmagen med passes phase 2 asthma test, seeks partner for late-stage trials

U.K.-based biotech Pulmagen says its oral CRTh2 antagonist has posted positive results for its respiratory drug in a midstage trial.

4. Amcure raises €6M in Series B, takes on Roche alumnus as new board member

German oncology biotech Amcure has secured a €6 million pot for its second formal round of funding as it looks to speed up the development of its leading candidate, AMC303.

5. Bayer, Versant join forces on $225M Series A for stem cell upstart

In one of the biggest Series A funding rounds ever recorded for a biotech, Germany’s Bayer and Versant Ventures have stumped up $225 million for the launch of BlueRock Therapeutics.

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