The Berke Report: Funding Update For The 2nd Week Of June
June 16, 2023
Explore the most recent private, public, and grant funding in the Pharma and Life Science industries. Our detailed analysis provides insights into the latest financial developments.
Private Funding
Upstream Bio Announces $200M Series B Financing to Advance UPB-101 for Allergic and Inflammatory Diseases. Financing led by Enavate Sciences and Venrock Healthcare Capital Partners and Bain Capital Life Sciences and Wellington Management join the syndicate (PR)
Ferring Pharmaceuticals successfully increases its second Swiss Franc Bond offering by CHF 80 million (joplingglobe)
Metagen Therapeutics, microbiome-based therapeutics for various diseases, has completed its Series A funding in 2 rounds, raising a total of 1.7 billion yen. Sparx Asset Management, Nippon Venture Capital, Mizuho Capital and SMBC Venture Capital have joined the 1st round investors of JIC Venture Growth Investments. (PR)
Bitterroot Bio nabs $145M Series A with a plan to tackle challenging cancer target for heart medicines rom some deep-pocketed investors: ARCH Venture Partners, Deerfield Management, GV, Koch Disruptive Technologies and Alexandria Venture Investments (endpts)
Lyndra Therapeutics eyes $180M Series D for potential 2026 launch of once-weekly schizophrenia med, led by new investor AIG Investments (endpts)
NanoImaging Services Receives Growth Equity Investment from Ampersand Capital Partners (PR)
LNP biotech Hopewell Therapeutics looks to go beyond the liver, raising $25M in seed money to move forward, The seed round was backed by a number of venture capital firms, including 5Y Capital and Mass Ave Capital (endpts)
HanAll Biopharma and Daewoong Pharmaceutical Co-invest in Vincere Biosciences for Collaborative Opportunities in Parkinson's Disease (PR)
Mozart Therapeutics Raises $25 Million in Expanded Series A Financing to Support Clinical Development of First-in-Class CD8 Treg Modulators for the Treatment of Autoimmune Diseases (PR)
Eikon Acquires Broad Development Pipeline, Raises $106M in Series C Funding (biospace)
VarmX Raises €30 Million Series B2 Financing for IND Approval and Preparations for Pivotal Trial (PR)
Lyra Therapeutics Announces $50.0 Million Private Placement The private placement includes participation from new and existing investors, including Perceptive Advisors, Venrock Healthcare Capital Partners, Armistice Capital, Surveyor Capital (a Citadel company), North Bridge Venture Partners, Nantahala Capital, Samsara BioCapital, and Woodline Partners LP. (PR)
Public Financing:
Verastem Oncology Announces Pricing of $85.0 Million Public Offering of Common Stock and Pre-Funded Warrants (PR)
Cogent Biosciences Announces Closing of $150M Upsized Public Offering of Common Stock following ASCO positive data drop for KIT inhibitor (endpts)
Phathom Pharmaceuticals Announces Closing of $150M Underwriters’ Option to Purchase Additional Shares in Connection with Public Offering of Common Stock (biospace)
NRx Pharmaceuticals raises $6.28M from stock offering approval of a study of a new use for a Philadelphia company's drug being developed for Parkinson's disease (bizjournal)
Zentalis Pharmaceuticals Shares Rise 10% After $250 Million Offering Prices (marketwatch)
Rosemont expands its offering with portfolio acquisition from Lucis Pharma Ltd (pharmaceuticalmanufacturer)
Agile Therapeutics Announces Closing of $7.5 Million Public Offering (PR)
Bioxytran Expands Institutional Investor Base with an additional $500,000 Equity Investment (PR)
Grant Funding:
Pew Funds 22 Scientists Exploring Pressing Biomedical Questions (PR)
Harvard Professor and Entrepreneur Tim Springer Donates $210 Million to the Institute for Protein Innovation (PR)
Grant Programs Announced for Washington Life Science Startups (425business)
NIH Approves Second Phase of Funding to Support IND-enabling Work for Ambulero Gene Therapy to Treat Vascular Disease (medtechalert)
Helocyte Announces $3.22M Grant from the National Cancer Institute for Triplex Phase 2 Clinical Trial Program (marketscreener)
California Institute for Regenerative Medicine (CIRM) awards grant to support Eureka Therapeutics, Inc’s T-cell therapy trial, The ongoing ARYA-2 study is part of the company’s liver cancer portfolio (clinicaltrialsarena)
The National Institutes of Health awards The Jackson Laboratory over $22M for gene editing research. Project aiming for safe, effective therapies for SMA, other diseases (smanewstoday)
Benjamin Martin of Stony Brook University Receives $2M NIH Grant for Stem Cell Research (PR)
Gates Foundation Renews Collaboration with Beijing Government and Tsinghua University on Innovative Therapies for Infectious Diseases Prevalent in Low- and Middle-income Countries (PR)
$78.4M NIH grant supports Tufts CTSI to advance clinical and translational science research (PR)
Discovering Cell Identity: $6M NIH Grant Funds New Penn Medicine, University of Pennsylvania Health System Research to Uncover Cardiac Cell Development. Researchers are interested in how cardiac cells establish and maintain their identity over a lifetime (PR)OICR funding to help six Ontario-based research teams improve the lives of cancer patients (newsmedical)