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Table of contents
How the market performed this week
Licenses / Partnerships
Clinical trials
Financing
RIF
Disease of the week
What I’ve read this week
Paid Content Section
Upcoming Catalysts Next Week
Reminders
Biotech Valuation
Most Shorted Biotech Stock as of This Week
Market
Notes from analysts
Venture Capital Market
M&A
How the market performed this week
ETFs
Gene Therapy
RNA Therapy
Big Pharma
Gainers / Decliners this week in biotech
News of the week
Licenses/Partnerships
Sumitomo Pharma Co., Ltd.
Symbol: 4506
Event Phase: III
Drug: SEP-363856
Indication: Schizophrenia
Lead Indication: Y
Target: Trace Amine Associated Receptor 1 (TAAR1)
LOA: 52%
Partner Companies: Otsuka Pharmaceutical Co. Ltd., PsychoGenics Inc.
Source Link: Otsuka Pharmaceutical Co. Ltd. Press Release
Theratechnologies Inc.
Symbol: THTX
Event Phase: Approved
Drug: Trogarzo
Indication: HIV / AIDS Treatment
Lead Indication: Y
Target: Cluster of Differentiation 4 (CD4)
LOA: 100%
Partner Companies: AcedrA Pharmaceutical Company, Biogen, Inc. (BIIB), Roche Holding AG (RHHBY), TaiMed Biologics, Inc. (4147)
Source Link: TaiMed Biologics Inc. Press Release
First Wave BioPharma, Inc.
Symbol: FWBI
Event Phase: II
Drug: IMGX003
Indication: Celiac Disease
Lead Indication: Y
Target: Gluten
LOA: 19%
Partner Companies: AbbVie Inc. (ABBV)
Source Link: GlobeNewswire Press Release
Eloxx Pharmaceuticals, Inc.
Symbol: ELOX
Event Phase: IND
Drug: ZKN-013
Indication: Epidermolysis Bullosa
Lead Indication: N
Target: Adenomatous Polyposis Coli (APC), Collagen, Laminin Receptor
Partner Companies: Almirall SA (ALM)
Source Link: Almirall SA Press Release
NovaBay Pharmaceuticals, Inc.
Symbol: NBY
Event Phase: Approved
Drug: APP13007
Indication: Ocular Pain and/or Inflammation (Ophthalmology)
Lead Indication: Y
Target: Glucocorticoid Receptor (GR)
LOA: 100%
Partner Companies: Cristalia Produtos Quimicos Farmaceuticos Ltda., Eyenovia, Inc. (EYEN), Formosa Pharmaceuticals Inc., Grand Pharmaceutical Group Limited (512), Sosei Heptares (4565)
Source Link: GlobeNewswire Press Release
Allogene Therapeutics Inc.
Symbol: ALLO
Event Phase: Preclinical
Drug: ALLO-329
Indication: Autoimmune Disorders
Lead Indication: N
Target: Cluster of Differentiation 19 (CD19), Cluster of Differentiation 70 (CD70)
Partner Companies: N/A
Source Link: GlobeNewswire Press Release
Sosei Heptares
Symbol: 4565
Event Phase: Development Outside U.S.
Drug: HTL0048149
Indication: Schizophrenia
Lead Indication: N
Target: Unknown
Partner Companies: Boehringer Ingelheim GmbH
Source Link: GlobeNewswire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: II
Drug: HPN328
Indication: Small Cell Lung Cancer (SCLC)
Lead Indication: Y
Target: Delta-like 3 (DLL3), Human Serum Albumin (HSA), T lymphocytes, Tumor Cells
LOA: 11%
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: II
Drug: HPN536
Indication: Solid Tumors
Lead Indication: Y
Target: Human Serum Albumin (HSA), Mesothelin, T lymphocytes, Tumor Cells
LOA: 11%
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: I
Drug: HPN217
Indication: Multiple Myeloma (MM)
Lead Indication: Y
Target: B-cell maturation antigen (BCMA), Human Serum Albumin (HSA), Immune System, T lymphocytes, Tumor Cells
LOA: 5%
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: Preclinical
Drug: HPN601
Indication: Solid Tumors
Lead Indication: Y
Target: Immune System, T lymphocytes, Tumor Cells
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: Preclinical
Drug: TriTAC-XR
Indication: Cancer
Lead Indication: N
Target: Immune System, T lymphocytes, Tumor Cells
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: Preclinical
Drug: TROP2 ProTriTAC
Indication: Solid Tumors
Lead Indication: N
Target: Trop-2
Partner Companies: N/A
Source Link: BusinessWire Press Release
Merck & Co., Inc.
Symbol: MRK
Event Phase: Preclinical
Drug: ITGB6 ProTriTAC
Indication: Solid Tumors
Lead Indication: N
Target: Integrins
Partner Companies: N/A
Source Link: BusinessWire Press Release
Astellas Pharma, Inc.
Symbol: 4503:JP
Event Phase: Approved
Drug: Cresemba
Indication: Aspergillosis
Lead Indication: N
Target: Cytochrome p450
LOA: 100%
Partner Companies: Asahi Kasei Corporation (AHKSY), Avir Pharma, Inc., Basilea Pharmaceutica Ltd. (BSLN), Hikma Pharmaceuticals plc (HIK), Knight Therapeutics, Inc. (GUD), Pfizer Inc. (PFE)
Source Link: GlobeNewswire Press Release
Clinical trials (LOA=likelihood of approval)
BioMarin Pharmaceutical Inc. (BMRN)
Approved Voxzogo for Achondroplasia
Molecule: Peptide
Target: Natriuretic Peptide Receptors
LOA: 100%
Partner Companies: Chugai Pharmaceutical Co., Ltd. (4519)
Source Link: ACMG
Immuneering Corporation (IMRX)
Event Phase: II
Drug: IMM-1-104
Indication: Solid Tumors
Molecule: Small Molecule
Target: Mitogen-activated ERK kinase (MEK), Relaxin Family Peptide Receptors 1-4 (RXFP1-4)
LOA: 11%
Source Link: GlobeNewswire
Nuvectis Pharma, Inc. (NVCT)
Event Phase: I
Drug: NXP800
Indication: Ovarian Cancer
Molecule: Small Molecule
Target: General Control Nonderepressible 2 (GCN2), Heat shock transcription factor 1 (HSF-1)
LOA: 5%
Source Link: GlobeNewswire
Madrigal Pharmaceuticals, Inc. (MDGL)
Approved Rezdiffra for Non-Alcoholic Steatohepatitis (NASH)
Molecule: Small Molecule
Target: Thyroid hormone receptors (TRs)
LOA: 100%
Partner Companies: Roche Holding AG (RHHBY)
Source Link: GlobeNewswire
Aquestive Therapeutics, Inc. (AQST)
Event Phase: III
Drug: Anaphylm for Anaphylaxis
Molecule: Small Molecule
Target: Alpha Adrenergic Receptors, Beta Adrenergic Receptors
LOA: 65%
Source Link: Aquestive
Cantargia AB (CANTA)
Event Phase: IND
Drug: CAN10 for Systemic Sclerosis
Molecule: Monoclonal Antibody
Target: IL-1 (Interleukin-1)
Source Link: Accesswire
Bristol Myers Squibb Company (BMY)
Approved Breyanzi for Chronic Lymphocytic Leukemia (CLL)/Small Cell Lymphocytic Lymphoma (SLL) - NHL
Molecule: Cellular
Target: Autologous Chimeric Antigen Receptor T-cells (CAR-T), Cluster of Differentiation 19 (CD19), T lymphocytes
LOA: 100%
Source Link: BusinessWire
BioNxt Solutions Inc. (BNXT)
Event Phase: Preclinical
Drug: Cladribine (BioNxt) for Multiple Sclerosis (MS)
Molecule: Small Molecule
Target: Ribonucleotide Reductase (RNR)
Source Link: Accesswire
Revelation Biosciences Inc. (REVB)
Event Phase: Preclinical
Drug: REVTx-300 for Acute Kidney Injury (AKI)/Acute Renal Failure (ARF)
Molecule: Small Molecule
Target: Immune System
Source Link: BusinessWire
Ionis Pharmaceuticals, Inc. (IONS)
Event Phase: II
Drug: ION224 for Non-Alcoholic Steatohepatitis (NASH)
Molecule: Antisense
Target: Diglycerol Acyltransferase (DGAT)
LOA: 17%
Source Link: PRNewswire
Silence Therapeutics plc (SLN)
Event Phase: I
Drug: Zerlasiran for Dyslipidemia / Hypercholesterolemia
Molecule: siRNA/RNAi
Target: Lipoprotein (a) [Lp(a)]
LOA: 6%
Source Link: BusinessWire
Spruce Biosciences, Inc. (SPRB)
Event Phase: II
Drug: Tildacerfont for Congenital Adrenal Hyperplasia (CAH)
Molecule: Small Molecule
Target: Corticotropin Releasing Factor - Receptor1 (CRF-R1)
LOA: 17%
Partner Companies: Kaken Pharmaceutical Company, Ltd (4521)
Source Link: BusinessWire
Xencor, Inc. (XNCR)
Event Phase: II
Drug: XmAb20717 for Solid Tumors
Molecule: Monoclonal Antibody
Target: Cluster of Differentiation 3 (CD3), Cytotoxic T-Lymphocyte Antigen 4 (CTLA4), Programmed death-1 receptor (PD-1)
LOA: 12%
Source Link: Xencor Investors
Cybin Inc. (CYBN)
Event Phase: II
Drug: CYB-003 for Major Depressive Disorder (MDD)
Molecule: Small Molecule
Target: Serotonin Receptors - Unspecified
LOA: 14%
Source Link: BusinessWire
Pfizer Inc. (PFE)
Event Phase: III
Drug: Adcetris for Diffuse Large B-Cell Lymphoma (DLBCL) - NHL
Molecule: Monoclonal Antibody
Target: Cluster of Differentiation 30 (CD30) / TNFRSF8, Microtubules (Tubulin)
LOA: 46%
Partner Companies: Takeda Pharmaceutical Co. Ltd. (TAK)
Source Link: BusinessWire
Arcutis Biotherapeutics, Inc. (ARQT)
Approved ZORYVE for Dermatitis of the Scalp
Molecule: Small Molecule
Target: Phosphodiesterase 4 (PDE4)
LOA: 100%
Partner Companies: AstraZeneca PLC (AZN), Huadong Medicine Co., Ltd. (000963), Sato Pharmaceutical Co., Ltd.
Source Link: ePosters
Regulus Therapeutics Inc. (RGLS)
Event Phase: I
Drug: RGLS8429 for Polycystic Kidney Disease
Molecule: microRNA
Target: microRNA (miRNA), miR-17
LOA: 10%
Source Link: PRNewswire
Crinetics Pharmaceuticals, Inc. (CRNX)
Event Phase: II
Drug: Paltusotine for Carcinoid Syndrome
Molecule: Small Molecule
Target: Somatostatin Receptors
LOA: 11%
Partner Companies: Sanwa Kagaku Kenkyusho Co., Ltd.
Source Link: Crinetics
Fractyl Health (GUTS)
Event Phase: Preclinical
Drug: RJVA-001 for Diabetes Mellitus, Type II
Molecule: Viral Gene Therapy
Target: Unknown
Source Link: GlobeNewswire
Kineta, Inc. (KA)
Event Phase: II
Drug: KVA12123 for Solid Tumors
Molecule: Monoclonal Antibody
Target: VISTA (V-domain immunoglobulin-containing suppressor of T-cell activation)
LOA: 11%
Source Link: GlobeNewswire
Marvel Biosciences Corp. (MRVL)
Development Outside U.S.: MB-204 for Autism Spectrum Disorders (Autism)
Molecule: Not Specified
Target: Adenosine A2a Receptor
Source Link: Newsfilecorp
Tempest Therapeutics, Inc. (TPST)
Event Phase: Preclinical
Drug: TPST-1120 for Solid Tumors
Molecule: Small Molecule
Target: PPAR alpha
Source Link: GlobeNewswire
AB Science S.A. (AB)
Event Phase: III
Drug: Masitinib
Indication: Amyotrophic Lateral Sclerosis (ALS)
Molecule: Small Molecule
Target: Fibroblast Growth Factor Receptor (FGFR), KIT/c-KIT, Platelet-derived growth factor receptor (PDGFR)
LOA: 46%
Partner Companies: University of Chicago
Source Link: GlobeNewswire
Unicycive Therapeutics, Inc. (UNCY)
Event Phase: Preclinical
Drug: UNI-494
Indication: Acute Kidney Injury (AKI)/Acute Renal Failure (ARF)
Molecule: Small Molecule
Target: Potassium channels
LOA: Not specified
Partner Companies: Sphaera Pharma Pte. Ltd.
Source Link: GlobeNewswire
Poseida Therapeutics, Inc. (PSTX)
Event Phase: I
Drug: P-BCMA-ALLO1
Indication: Multiple Myeloma (MM)
Molecule: Cellular
Target: Allogeneic Chimeric Antigen Receptor T-cells (CAR-T), B-cell maturation antigen (BCMA), Immune System, Stem Cells/Other Cell Therapies
LOA: 5%
Partner Companies: Amgen, Inc. (AMGN), Johnson & Johnson (JNJ), Roche Holding AG (RHHBY)
Source Link: PRNewswire
Tonix Pharmaceuticals Holding Corp. (TNXP)
Event Phase: III
Drug: Tonmya
Indication: Fibromyalgia
Molecule: Small Molecule
Target: Alpha 2 Adrenergic Receptor, Serotonin 5-HT2A receptor
LOA: 39%
Partner Companies: Not specified
Source Link: GlobeNewswire
ACADIA Pharmaceuticals Inc. (ACAD)
Status: Suspended
Drug: Nuplazid
Indication: Schizophrenia
Molecule: Small Molecule
Target: Serotonin 5-HT2A receptor
Source Link: BusinessWire
Avenue Therapeutics Inc. (ATXI)
Event Phase: Preclinical
Drug: BAER-101
Indication: Seizure Disorders (Epilepsy)
Molecule: Small Molecule
Target: GABA Receptors
LOA: Not specified
Partner Companies: AstraZeneca PLC (AZN), Cincinnati Children's Hospital Medical Center
Source Link: GlobeNewswire
Ventyx Biosciences, Inc. (VTYX)
VTX-3232:
Event Phase: I
Indication: Parkinson's Disease (PD)
Molecule: Small Molecule
Target: NLRP3/Inflammasome
LOA: 6%
Partner Companies: Not specified
Source Link: GlobeNewswire
ZMG-2735:
Event Phase: II
Indication: Cryopyrin (CIAS1)-Associated Periodic Syndromes (CAPS)
Molecule: Small Molecule
Target: NLRP3/Inflammasome
LOA: 19%
Partner Companies: Not specified
Source Link: GlobeNewswire
BioSenic SA (BIOS)
Status: Development Outside U.S.
Drug: Arscimed
Indication: Graft vs. Host Disease (GVHD) - Treatment
Molecule: Small Molecule
Target: Reactive Oxygen Species/Free Radicals, T lymphocytes
Partner Companies: Phebra Pty Ltd
Source Link: GlobeNewswire
Financing events
Amolyt Pharma
Description: Operator of a clinical-stage biotechnology company intended for the treatment of endocrine and metabolic disorders. The company offers severe insulin resistance to control the symptoms of hypoparathyroidism by safely producing sustained levels of calcium in the blood, enabling healthcare professionals to combat critical and rare metabolic conditions.
Verticals: HealthTech, Life Sciences, Oncology
Deal Date: 14-mars-2024
Deal Type: Merger/Acquisition
Deal Synopsis: The company reached a definitive agreement to be acquired by AstraZeneca (LON: AZN) for $1.05 billion on March 14, 2024.
Investors: AstraZeneca (LON: AZN)(Marc Dunoyer)
Deal Size: $1,050.00
Apogee Therapeutics (NAS: APGE)
Description: Apogee Therapeutics Inc is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD) and related inflammatory and immunology (I&I) indications with high unmet need.
Verticals: Life Sciences
Deal Date: 11-mars-2024
Deal Type: Public Investment 2nd Offering
Deal Synopsis: The company raised $420 million in its second public offering on the Nasdaq stock exchange under the ticker symbol of APGE on March 11, 2024.
Deal Size: $420.00
Aprea Therapeutics (NAS: APRE)
Description: Aprea Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cancer therapeutics that reactivate mutant p53 tumor suppressor protein.
Verticals: Life Sciences, Oncology
Deal Date: 11-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS:APRE) is in talks to receive $16 million of development capital from various investors on March 11, 2024, over 2 tranches through a private placement.
Investors: DAFNA Capital Management, Exome Asset Management, Nantahala Capital Management, Sphera Healthcare, Stonepine Capital Management
Deal Size: $16.00
Asgard Therapeutics
Description: Operator of a private biotech company intended to explore the application of direct cell reprogramming technologies for cancer immunotherapies.
Verticals: Life Sciences, Oncology
Deal Date: 14-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised EUR 30 million of Series A venture funding in a deal led by RV Invest and Johnson & Johnson Innovation - JJDC on March 14, 2024.
Investors: Boehringer Ingelheim Venture Fund(Philipp Mueller), Industrifonden(Jonas Jendi), Johnson & Johnson Innovation - JJDC(Fiona MacLaughlin), Novo Holdings(João Ribas), RV Invest(Aleksei Zeifman)
Deal Size: EUR 32.51
Cognition Therapeutics (NAS: CGTX)
Description: Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small-molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina.
Verticals: Life Sciences
Deal Date: 13-mars-2024
Deal Type: Public Investment 2nd Offering
Deal Synopsis: The company raised $11.5 million in its second public offering on the Nasdaq stock exchange under the ticker symbol of CGTX on March 13, 2024.
Deal Size: $11.50
Cybin (Drug Discovery) (NEOE: CYBN)
Description: Cybin Inc is a biopharmaceutical company involved in creating safe and effective therapeutics for patients to address a multitude of mental health issues.
Verticals: Life Sciences
Deal Date: 13-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NEOE:CYBN) is in talks to receive $150 million of development capital from various investors through a private placement as of March 13, 2024.
Investors: Acorn Bioventures, Altium Capital, Avidity Partners, Deep Track Capital, Logos Capital, Octagon Capital, RA Capital Management, Rosalind Advisors, Sphera Healthcare
Deal Size: $150.00
Deep Origin
Description: Developer of biology research and development accelerator technology intended for accelerating basic science, drug development, and bioengineering.
Verticals: Life Sciences
Deal Date: 13-mars-2024
Deal Type: Early Stage VC
Deal Synopsis: The company raised $25.5 million of venture funding from undisclosed investors on March 13, 2024.
Deal Size: $25.50
DepYmed
Description: Developer of potent inhibitors of the enzyme PTP1B intended to offer therapeutics for cancer and rare diseases.
Verticals: Life Sciences, Oncology
Deal Date: 11-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $500,000 of venture funding from undisclosed investors on March 11, 2024.
Deal Size: $0.50
Intelligent Bio Solutions (NAS: INBS)
Description: Intelligent Bio Solutions Inc is a life sciences company developing non-invasive, real-time monitoring and diagnostic tests for patients and their primary health practitioners.
Verticals: Life Sciences
Deal Date: 12-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS:INBS) received $10.1 million of development capital from undisclosed investors on March 12, 2024 through a private placement.
Deal Size: $10.10
Lexeo Therapeutics (NAS: LXEO)
Description: Lexeo Therapeutics Inc is a clinical-stage genetic medicines company dedicated to transforming healthcare by applying pioneering science to fundamentally change how disease is treated.
Verticals: Life Sciences, LOHAS & Wellness, Oncology
Deal Date: 13-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS: LXEO) received $95 million of development capital from various investors through a private placement on March 13, 2024.
Investors: Eventide Asset Management, Invus Opportunities, Laurion Capital Management, Longitude Capital, Novo Holdings, Omega Funds(Bernard Davitian), RA Capital Management, Surveyor Capital, Woodline Partners
Deal Size: $95.00
exicon Pharmaceuticals (NAS: LXRX)
Description: Lexicon Pharmaceuticals Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of pharmaceutical products for the treatment of human diseases.
Verticals: Life Sciences
Deal Date: 11-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS:LXRX) is in talks to receive $250 million of development capital from various investors through a private placement as of March 11, 2024.
Investors: Braidwell, Great Point Partners, OrbiMed, The Invus Group(Philippe Amouyal)
Deal Size: $250.00
Locate Bio
Description: Developer of a regenerative medicine platform designed to help surgeons restore patients' lives through research, innovation, and performance.
Verticals: Life Sciences
Deal Date: 14-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised GBP 8.4 million of venture funding from Mercia Asset Management and other undisclosed investors on March 14, 2024.
Investors: Mercia Asset Management (LON: MERC)(Mark Payton)
Deal Size: GBP 8.4 million ($10.65 million)
Lytica Therapeutics
Description: Operator of a biotechnology company intended to develop novel peptide conjugates for next-generation ADCs.
Verticals: Life Sciences
Deal Date: 11-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $4.07 million of venture funding in the form of convertible debt from undisclosed investors on March 11, 2024.
Deal Size: $4.07 million
Melt Pharmaceuticals
Description: Developer of non-intravenous and non-opioid sedation and analgesia medicines intended for short-duration medical procedures in outpatient and in-office settings.
Verticals: HealthTech, Life Sciences
Deal Date: 11-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $41.55 million of venture funding from undisclosed investors on March 11, 2024.
Deal Size: $41.55 million
Mission Therapeutics
Description: Operator of a pharmaceutical research and drug discovery company intended to facilitate the development of advanced medical treatments.
Verticals: Life Sciences, Oncology
Deal Date: 14-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised GBP 25.2 million of venture funding in a deal led by Roche Venture Fund, Pfizer Ventures, and IP Group on March 14, 2024.
Investors: IP Group (LON: IPO), Pfizer Ventures(Denis Patrick), Roche Venture Fund(Carole Nuechterlein), Rosetta Capital (UK)(Jonathan Hepple), Sofinnova Partners(Graziano Seghezzi), SR One Capital Management(Matthew Foy)
Deal Size: GBP 25.2 million ($31.96 million)
Noa Therapeutics
Description: Developer of tailored multimodal therapies designed to revolutionize the treatment of immune diseases through a systems biology approach. The company offers singular, non-steroidal small molecules targeting three discrete therapeutic drivers to address complex immune diseases.
Verticals: Life Sciences
Deal Date: 13-mars-2024
Deal Type: Seed Round
Deal Synopsis: The company raised CAD 2.2 million of pre-seed funding in a deal led by UCeed on March 13, 2024. Phoenix Fires, NorthSpring Capital Partners, Ontario Centre of Innovation, Archangel Network of Funds, Golden Triangle Angelnet, and Angel One Investor Network also participated in the round. The funds will be used to advance its lead drug candidate for atopic dermatitis and to fuel the hit-to-lead phase which optimizes promising molecules into potential drugs for treating barrier dysfunction-related inflammatory diseases, such as ulcerative colitis and inflammatory bowel disease.
Investors: Angel One Investor Network, Archangel Network of Funds, Golden Triangle Angelnet, NorthSpring Capital Partners, Ontario Centre of Innovation (Maura Campbell), Phoenix Fires, UCeed
Deal Size: CAD 2.2 million ($1.74 million)
Nocion Therapeutics
Description: Developer of small molecule charged sodium channels designed to treat conditions arising from neurogenic inflammation. The company develops notions that target activated sensory neurons and enter activated nociceptors via large-pore channels on these neurons.
Verticals: HealthTech, Life Sciences
Deal Date: 14-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $62 million through a combination of Series B and Series B-1 venture funding in a deal led by Arkin Bio Ventures and Monograph Capital on March 14, 2024, putting the company's pre-money valuation at $32 million. Mission BioCapital, F-Prime Capital, Canaan Partners, Mass General Brigham Ventures, and Osage University Partners also participated in the round. The funds will be used to support a global multi-center Phase 2b trial in Refractory Chronic Cough and activities for Phase 3 Readiness.
Investors: Arkin Bio Ventures (Pini Orbach), Canaan Partners (Julie Grant), F-Prime Capital (Jessica Alston), Mass General Brigham Ventures (Meredith Fisher), Mission BioCapital (Steven Tregay), Monograph Capital (Freddie Dear), Osage University Partners
Deal Size: $62 million
ONL Therapeutics
Description: Operator of a biopharmaceutical company intended to protect and improve the vision of patients with a range of retinal diseases and conditions. The company develops innovative therapeutics treatments for serious, vision-threatening retinal diseases and conditions with small-molecule peptides for the protection of photoreceptors in retinal detachment.
Verticals: Life Sciences
Deal Date: 12-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $10.00 million of venture funding from undisclosed investors on March 12, 2024.
Deal Size: $10.00 million
Oxford Biodynamics (LON: OBD)
Description: Oxford BioDynamics PLC is a biotechnology company focused on the discovery and development of biomarkers for use within the pharmaceutical and biotechnology industry.
Verticals: Life Sciences, Oncology
Deal Date: 14-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (LON:OBD) received GBP 9.41 million of development capital from undisclosed investors on March 14, 2024 through a private placement. The proceeds from the placement will be used for working capital to support the ongoing commercial development of the EpiSwitch® product line, through continued investment in sales and marketing activities to grow adoption of EpiSwitch® PSE and EpiSwitch® CiRT, operation of the company's clinical, research and reference laboratory facilities worldwide and pursuit of partnering and licensing opportunities for deployable pipeline assets.
Deal Size: GBP 9.41 million ($11.92 million)
Regulus Therapeutics (NAS: RGLS)
Description: Regulus Therapeutics Inc is a biotechnology company focused on the development of microRNA therapies targeting diseases such as cancer, metabolic diseases, fibrosis, and inflammatory diseases.
Verticals: Life Sciences, Oncology
Deal Date: 12-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS:RGLS) is in talks to receive $100 million of development capital from Deep Track Capital, Vivo Capital, RA Capital Management, New Enterprise Associates, Federated Kaufmann Fund, Adage Capital Management, and Octagon Capital through a private placement as of March 12, 2024.
Investors: Adage Capital Management, Deep Track Capital, Federated Kaufmann Fund (NAS: KAUAX), New Enterprise Associates, Octagon Capital, RA Capital Management, Vivo Capital
Deal Size: $100 million
Siolta Therapeutics
Description: Operator of a clinical-stage biotech company intended to develop biotherapeutic products to target the core drivers of disease. The company's platform offers safe pharmaceutical-grade anaerobic organisms and is in phase 2 development for the prevention of atopic diseases, including atopic dermatitis, food allergy, and asthma.
Verticals: Life Sciences
Deal Date: 12-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised $12 million of Series C venture funding in a deal led by Khosla Ventures and SymBiosis Capital Management on March 12, 2024, putting the company's pre-money valuation at $30 million. Kirin Holdings Company, Kirin Holdings Company, and 8 other investors also participated in the round. The funds will be used by the company support further clinical development of their lead product STMC-103H, a defined-consortia Live Biotherapeutic Product (LBP) focused on preventing the onset of atopic diseases in newborns and also to explore the potential of microbiome-based treatments in maternal and infant health.
Investors: Global Brain, Johnson & Johnson Innovation - JLABS, Khosla Ventures (Samir Kaul), Kirin Health Innovation Fund, Kirin Holdings Company (TKS: 2503), Marc Benioff, MBC BioLabs, National Institutes of Health, Seventure Partners, Springboard Enterprises, SymBiosis Capital Management (Aleksei Cremo)
Deal Size: $12 million
Tubulis
Description: Developer of chemotherapeutic drugs designed to fight against cancer and chronic diseases. The company's chemotherapeutic drugs are uniquely matched protein-drug conjugates by combining proprietary novel technologies with disease-specific biology.
Verticals: Life Sciences, Oncology
Deal Date: 14-mars-2024
Deal Type: Later Stage VC
Deal Synopsis: The company raised EUR 128 million of Series B2 venture funding in a deal led by EQT Life Sciences and Nextech Invest on March 14, 2024. Evotec, Andera Partners, Deep Track Capital, Fund+, BioMedPartners, High-Tech Gründerfonds, Seventure Partners, Coparion, Bayern Kapital, Occident Group, Frazier Lifesciences Acquisition, and other undisclosed investors also participated in the round. The funds will be used to support the clinical evaluation of lead solid tumor ADC candidates, TUB-030 and TUB-040, further technology development, and expansion into the US.
Investors: Andera Partners (Jan Van den Bossche), Bayern Kapital, BioMedPartners, Coparion (Sebastian Pünzeler), Deep Track Capital, EQT Life Sciences (Christoph Broja), Evotec (ETR: EVT), Frazier Lifesciences Acquisition, Fund+, High-Tech Gründerfonds, Nextech Invest (Kanishka Pothula), Occident Group, Seventure Partners
Deal Size: EUR 128 million ($141.61 million)
Unicycive (NAS: UNCY)
Description: Unicycive Therapeutics Inc is a biotechnology company dedicated to developing treatments for certain medical conditions, focusing on kidney diseases. Its lead drug, Renazorb, is a novel phosphate-binding agent being developed for the treatment of hyperphosphatemia. Unicycive's other drug, UNI-494, is a new chemical entity with issued composition of matter patent protection in late preclinical development for the treatment of acute kidney injury.
Verticals: Life Sciences
Deal Date: 14-mars-2024
Deal Type: PIPE
Deal Synopsis: The company (NAS:UNCY) is in talks to receive $50 million of development capital from Great Point Partners, Vivo Capital, Logos Capital, Nantahala Capital Management, Octagon Capital Advisors, SilverArc Capital Management, Velan Capital, and Walleye Capital through a private placement as of March 14, 2024. The proceeds from the private placement will be used to support the advancement of the Company's clinical development pipeline and general working capital.
Investors: Great Point Partners, Logos Capital, Nantahala Capital Management, Octagon Capital Advisors, SilverArc Capital Management, Velan Capital, Vivo Capital, Walleye Capital
Deal Size: $50 million
Reduction in force (RIF)
March 14 - Spruce Biosciences: In the wake of a phase 2 trial for the biotech's only drug candidate, Spruce is sending 21% of staffers packing.to extend its cash runway through the end of 2025. Story
March 13 - Coherus BioSciences: About a year after launching a prior round of layoffs, Coherus is again reducing its head count, this time by 30%. The latest round of cuts started March 7 and are expected to be complete by the end of the year and save more than $25 million in annual costs. Story
March 13 - Takeda: After an unsuccessful attempt to sell an Austrian manufacturing and development site, Takeda is calling it quits on much of the operations at the facility. The Japan-based company is shutting down production and R&D operations at its AAV gene therapy plant in Austria, with 190 employees set to lose their jobs. Story
Disease of the week
Wolman disease, also known as Lysosomal Acid Lipase (LAL) Deficiency, is an extremely rare genetic disorder characterized by the deficiency or absence of the enzyme lysosomal acid lipase (LAL). This enzyme is responsible for breaking down cholesterol esters and triglycerides within cells. Without sufficient LAL activity, these lipids accumulate in various organs, particularly the liver, spleen, and intestines. The disease is a lysosomal storage disease. Multiple organs such as adrenal glands, liver, spleen, bone marrow, small bowel loops, and abdominal lymph nodes are infiltrated by the deposition of lipids. Infants generally present with failure to thrive, abdominal distention, vomiting, steatorrhea, and hepatosplenomegaly. Authors’ present a 1 month-old male infant with abdominal distention and failure to thrive who was referred for abdomen CT scan. The CT scan revealed stippled calcifications of both enlarged adrenal glands, without the distortion of the adreniform shape, fatty liver, splenomegaly and thickened small bowel loops; characteristic imaging findings of Wolman disease. CT scan is the imaging modality of choice for the recognition of the disease. There is no definite cure explained yet. Further studies are required to find the definite treatment of the disease.
(A-F): Selected axial, coronal and sagittal contrast-enhanced abdomen CT scan soft tissue and bone window images demonstrating demonstrating enlarged adrenal glands with stippled cortical calcifications preserving their adreniform shape (yellow arrows), fatty liver (black asterisk), and enlarged spleen (red asterisk).
Here's a comprehensive overview of Wolman disease:
Genetics: Wolman disease is inherited in an autosomal recessive pattern, meaning that a child must inherit two copies of the defective gene (one from each parent) to develop the condition. The gene associated with Wolman disease is called LIPA, which provides instructions for making the lysosomal acid lipase enzyme. Mutations in this gene lead to the production of non-functional or insufficient lysosomal acid lipase.
Onset and Symptoms: Symptoms of Wolman disease typically appear within the first few months of life, often shortly after birth. Infants with Wolman disease may present with:
Enlargement of the liver and spleen (hepatosplenomegaly)
Failure to thrive
Poor weight gain
Abdominal distension due to the enlarged organs
Diarrhea
Malabsorption of nutrients
Jaundice
Vomiting
Development of fatty deposits under the skin (xanthomas)
Growth retardation
Severe lipid abnormalities
Progression: Wolman disease is progressive and rapidly fatal if left untreated. The accumulation of lipids in organs can lead to organ failure, particularly affecting the liver, leading to liver dysfunction and potentially liver failure. Additionally, the accumulation of lipids in the intestines can cause malabsorption, leading to severe malnutrition and growth impairment.
Diagnosis: Diagnosis of Wolman disease is typically based on clinical presentation, imaging studies (such as ultrasound or MRI to assess organ enlargement), and laboratory tests to evaluate lipid levels and confirm deficient LAL enzyme activity. Genetic testing can confirm the presence of mutations in the LIPA gene.
Treatment: Currently, there is no cure for Wolman disease. Treatment focuses on managing symptoms and complications. Enzyme replacement therapy (ERT) with recombinant human lysosomal acid lipase has shown promise in reducing lipid accumulation and improving some symptoms, but it is not curative. Supportive care may include nutritional support, management of complications such as liver dysfunction, and supportive therapies to address symptoms.
Prognosis: The prognosis for individuals with Wolman disease is poor. Without treatment, the disease is rapidly progressive and fatal, often within the first year of life due to complications such as liver failure and severe malnutrition. Even with treatment, the disease can significantly impact quality of life and lifespan.
What I’ve read this week
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