Biotech billionaire Patrick Soon-Shiong is pumping $71 million into Conkwest as it preps a move to go public in a $172.5 million IPO.
Cambridge, MA's Seres Therapeutics pulled off an above-its-range IPO, grossing about $134 million to bankroll its work on drugs that change the weather in the gut to treat disease.
The mayor of London has come up with a scheme to bridge the financial chasm between the U.K. and U.S. biotech hubs. Officials have called Eli Lilly, Pfizer and JP Morgan to a meeting to discuss the plan, which entails creating a £10 billion ($15 billion) fund to invest in drugs across the development spectrum, The Financial Times reports.
Canadian biotech Clementia Pharmaceuticals raised $60 million in mezzanine cash to help it fashion a once-failed Roche drug into a promising treatment for a rare disease.
La Jolla, CA-based Avalon Ventures led a $17 million A round for Ankasa Regenerative Therapeutics, handing over an $8.5 million tranche to an upstart biotech working on new technology for reactivating stem cells and tissue regeneration.
As CEO of Sanofi, Chris Viehbacher was always an outspoken champion of the innovation that could be found in biotech, even as it remained an elusive goal inside the Big Pharma. He backed up that belief with major partnerships with the likes of Regeneron and Alnylam. And now, 8 months after getting booted out of Sanofi by an angry board, he's getting back in the hunt for the best of biotech and the life sciences industry as the head of a $2 billion healthcare investment fund set up by Swiss billionaire Ernesto Bertarelli.
Patrick Soon-Shiong thinks he can beat CAR-Ts in the clinic. And after quietly taking control of a small biotech named Conkwest, the biotech billionaire is now floating a $172.5 million IPO in a sizzling hot market to raise new funds for the midstage program that lies ahead.
Six months after nailing down a $20 million series C led by Pfizer, a group of crossover investors have backed a $70 million follow-up round for South San Francisco-based CytomX, a cancer-focused biotech with next-gen antibody tech that is positioning itself as a player at the crossroads of two of the hottest fields in oncology R&D.
South San Francisco startup Kezar Life Sciences is looking to follow through on some promising programs discovered at Onyx Pharmaceuticals, raising $23 million and securing Amgen's blessing as it targets autoimmune disease.
San Diego-based Avalon Ventures has doubled up on its pipeline of programs being developed in partnership with GlaxoSmithKline. The venture group has launched three new companies, plucking new drug projects that range from cardiovascular disease, to cancer to a rare lysosomal storage disorder.