This week's biotech funding and startup activity includes some significant milestones. Massachussets-based Cardurion Pharma raised $260M in Series B financing led by Ascenta Capital to support late-stage trials of its lead drug candidates. Scorpion Therapeutics, also from MA, announced $150M in Series C financing to advance its precision oncology assets. Munich-based CatalYm GmbH secured $150M in Series D financing to support the Ph2b development of Visugromab.
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FIG. 1. Recent Biotech Funding Activity.
– Private Funding –
Cardurion Pharma
💸 Raised $260M in Series B financing led by Ascenta Capital to support late-stage trials of lead drug candidates.
Scorpion Therapeutics
💸 Announced $150M Series C financing co-led by Frazier Life Sciences and Lightspeed Venture Partners to advance precision oncology assets.
CatalYm GmbH
💸 Announced $150M Series D financing to support Ph 2b development of Visugromab
Magenta Medical Ltd.
💸 Closed $105M financing led by several healthcare investors to advance the company's U.S. clinical programs in multiple MCS indications and to secure the first FDA approval for the Elevate™ System in patients undergoing HR-PCI.
Asceneuron
💸 Secured $100M in Series C financing led by Novo Holdings to advance Ph2 development of ASN51 for treating Alzheimer's disease.
– Post-IPO/Public Funding –
Artiva Biotherapeutics
🏦 Raised $167M in an IPO at $12/share.
NGM Biopharmaceuticals
🏦 Announced $122M Series A led by TCG funding to initiate PSC trial and fund Ph2 trial in hyperemesis gravidarum.
OPKO Health
🏦 Announced a $100M share repurchase program.
LENZ Therapeutics
🏦 Entered a $30M stock purchase agreement with Ridgeback Capital Investments.
MediWound
🏦 Announced a $25M private placement offering.
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Article History:
RF, DV, DG (07/26/24)
This article is not investment or legal advice.
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