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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.

Recent Biopharma Funding Activity - April 1st

Check out the following recent activity in the biopharma funding space. This mix of private investments and public grants fuels important research and development across the industry. Take a closer look at some of the notable updates for this week:


– Private Funding –


Avenzo Therapeutics, Inc.

💸 $346M equity funding through Series A-1 funding w/ $223M already sold.


Volumina Medical

💸 Received $21M Series A funding to gather additional and valuable clinical data from AdipearlTM studies.


Edgewood Oncology

💸 Secures $20M in Series A funding from Alta Partners to fund BTX-A51 development.


Hemotune

💸 Received CHF 14M (~$15.4M) Series B2 funding led by Belmondo to fund its clinical trials.


Aeovian Pharmaceuticals

💸 Raised $50M funding led by Apollo Health Ventures and other investors to support the completion of Ph1 trial of AV078 and prepare to initiate Ph2 clinical trial.


Firefly Bio, Inc.

💸 $72M equity funding w/ $39.9M already sold.


IntraBio Inc.

💸 $40.9M equity funding w/ $40.2M already sold.


Artcline

💸 Raised €4.4M (~$4.7M) funds to finance the execution of the ReActIF-ICE trial of the ARTICE® therapy.


GelMEDIX, Inc.

💸 $3.5M debt financing w/ $1.8M already sold.



– Grant Funding –


Confo Therapeutics

🏦 Secured €1.6M (~$1.7M) VLAIO grant to support the R&D of the next-generation medicines targeting Class B GPCRs.


Neogap Therapeutics

🏦 SEK 5M (~$463K) awarded by Eurostars to develop an assay of T-cell activity in collab w/ Okomera.



– Post-IPO/Public Funding –


United Therapeutics Corporation

🏦 Entered a $1B accelerated share repurchase program agreement w/ Citibank, N.A.


Moderna

🏦 Secured $750M funding from Blackstone Life Sciences to develop flu shots.


Nkarta

🏦 $240M underwritten offering to fund its NKX019 clinical development, build manuf. capabilities and for general corporate purposes.


Merrimack Pharmaceuticals

🏦 Received $225M milestone payment from Ipsen due to ONIVYDE FDA approval.


Praxis Precision Medicines, Inc.

🏦 $200M public offering.


Avalo Therapeutics

🏦 $185M private placement financing.


CervoMed

🏦 $149.4M private placement financing led by RA Capital Management to fund the R&D of neflamapimod, working capital, and general corporate purposes.


Aquestive Therapeutics

🏦 Closed $75M underwritten public offering.


iBio

🏦 $15M PIPE financing participated by ADAR1 Capital Management and other investors to be used for general corporate purposes, including research and development and working capital.


Xilio Therapeutics

🏦 $11.3M private placement led by Bain Capital Life Sciences and Rock Springs Capital to fund the development of XTX301 as well as XTX101.


Molecular Templates

🏦 $9.5M private placement led by BVF Partners L.P. and other investors to fund its ongoing clinical studies, working capital, and general corporate purposes.


Portage Biotech

🏦 Raised 2.8M of non-dilutive funding to further develop its PORT-6 Phase 1a portion of the ADPORT-601 trial.





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Article History:

RF, DV (04/01/24)


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