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NEWS & INSIGHTS

Dive into the Biopharma Space

Stay up-to-date on major biopharma news, deeper dives into specific companies and biopharma themes, and how it all relates to biopharma partners.

Biopharma Funding Activity May 20th-24th 2024

2 newly launched companies and more funding events…


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FIG. 1. Recent Biotech Funding Activity.



Private Funding –


AltruBio

💸  Received an oversubscribed Series B financing of up to $225M led by BVF Partners LP, and other investors to support ongoing and planned Phase 2a and 2b clinical trials of immune checkpoint enhancer, ALTB-268, in ulcerative colitis.


Pheon Therapeutics

💸  Completed a $120m Series B financing led by TCGX, with participation from BVF Partners and other investors. The funding will be used to further advance Pheon's differentiated ADC pipeline through clinical proof of concept for its first three assets in a wide range of solid tumors.


SixPeaks Bio

💸  Launched with $110M funding: $30M in Series A led by Versant Ventures and $80M  non-dilutive financing from AstraZeneca.


Progentos Therapeutics

💸  Launched with $65M Series A financing led by Forbion to advance its multiple sclerosis program.


Aktis Oncology

💸  Received $60M upfront cash payment for the collaboration in addition to an equity investment in Aktis by Lilly to generate novel tumor-targeting radiopharmaceuticals. 




Post-IPO/Public Funding –


Bicycle Therapeutics plc

🏦  Announced $555M private investment in public equity.


Cytokinetics Inc

🏦  Announced pricing of $500M stock offering.


Dyne Therapeutics

🏦  Announced pricing of $325.5M public offering.


Erasca 

🏦  Announced closing of $184M offering.


Foghorn Therapeutics

🏦  Announced pricing of $110M direct offering and pre-funded warrants.



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Article History:

RF, DV, DG (05/28/24)


This article is not investment or legal advice.

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