This week’s biopharma funding activity saw Isotope Technologies secured €188M for radiopharmaceutical R&D. Amber Tx closed $100M Series A funding, Vilya expanded its Series A to $71M for AI-driven drug design. Restor3d raised $70M for implant systems and 3D printing. Osteal Therapeutics secured $50M for the commercial launch of VT-X7 for joint infections.
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FIG. 1. Recent Biotech Funding Activity.
– Private Funding –
ITM Isotope Technologies Munich SE
💸 Secured €188M equity investment led by Temasek. The funding will be used for radiopharmaceutical pipeline R&D and the potential market launch of ITM-11 for treating gastroenteropancreatic neuroendocrine tumors. Additionally, the funds will enhance ITM's manufacturing capabilities for medical radioisotopes such as Lutetium-177 and Actinium-225.
Amber Therapeutics
💸 Closed $100M Series A funding led by New Enterprise Associates (NEA) to advance Amber-UI for Mixed Urinary Incontinence.
Vilya
💸 Expanded its Series A financing to $71M to advance its computational drug design platform. The funding, led by ARCH Venture Partners with several investors, will enhance Vilya's generative AI technology for developing new medicines.
Restor3d
💸 Secured $70M in financing ($55M: Series A; $15M: debt financing). Investment will be used for new patient-specific implant systems for ankle and shoulder replacement development, expand 3D printing tech, enhance AI-based automation, and boost med. educ. Programs.
Osteal Therapeutics
💸 Raised $50M in Series D financing, led by Zimmer Biomet, to fund the approval and commercial launch of their lead drug candidate, VT-X7, to treat periprosthetic joint infections.
– Post-IPO/Public Funding –
Royalty Pharma
🏦 Announced pricing of $1.5B senior unsecured notes.
Alvotech
🏦 Initiated $965M refinancing agreement w/ several investors. Proceeds will be used to refinance various outstanding debt obligations, including those maturing in 2025.
Structure Therapeutics
🏦 Announced pricing of $476M public offering.
Telix Pharmaceuticals
🏦 Announced the launch of its $200M initial public offering.
Rapport Therapeutics
🏦 Announced a $122M IPO to advance RAP-219 into proof-of-concept trials for focal epilepsy.
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Article History:
RF, DV, DG (06/11/24)
RF, DG (06/12/24) - Content update
This article is not investment or legal advice.
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