This week's biopharma funding and startup activity includes several new company launches. Marea Therapeutics, headquartered in California, is advancing its pipeline for cardiometabolic diseases, with its lead asset being MAR001. Meanwhile, Supercede Therapeutics, also based in California, is developing small-molecule therapeutics for obesity.
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FIG. 1. Recent Biotech Funding Activity.
– Private Funding –
Marea Therapeutics
💸 Launched with $190M funding to advance lead program, MAR001, into Phase 2.
Insightec
💸 Announced $150M financing led by Fidelity to expand incisionless neurosurgery platform.
BillionToOne
💸 Raised $130M Series D funding to be used for expanding and scaling BillionToOne's prenatal and oncology businesses.
Spur Therapeutics
💸 Launched from merger between Freeline and SwanBio with $50M commitment from Syncona.
Supercede Therapeutics
💸 Launched with an undisclosed amount of seed funding to further oral obesity medicine.
– Post-IPO/Public Funding –
Shanghai Raas Blood Products
🏦 Completed sale of RMB 12.5B (~$1.7B) equity stake to Haier Group.
ProKidney
🏦 Closed $140M public offering to fund clinical trial costs and other R&D expenses.
UroGen Pharma
🏦 Announced pricing of $107.5M public offering.
NeuroBo Pharmaceuticals
🏦 Announced $70M concurrent private placement and direct offering to fund the Phase 1 Part 3 clinical trial of DA-1726.
Elutia
🏦 Announced pricing of $13.26M public offering.
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Article History:
RF, DV, DG (06/25/24)
This article is not investment or legal advice.
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