OrbiMed

ReCode Therapeutics Announces Closing of Extension to Series B Financing

Retrieved on: 
Tuesday, September 19, 2023
Biotechnology, Pharmaceutical, Genetics, Health, Tissue, Central nervous system, Therapy, Doctor of Philosophy, SORT, BLV, MBA, Recode, Cell, Messenger, OUP, Lung, Bayer, Kouki, OrbiMed, Andreessen Horowitz, Investment, Patient, Cystic fibrosis, Drug discovery, Liver, LNP, Primary ciliary dyskinesia, Vaccine, Pharmaceutical industry

ReCode Therapeutics , a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics, today announced the closing of an extension to its Series B financing, raising an additional $50 million, and the appointment of Kouki Harasaki, Ph.D., founding and managing partner of Bioluminescence Ventures (BLV), to the company’s board of directors.

Key Points: 
  • ReCode Therapeutics , a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics, today announced the closing of an extension to its Series B financing, raising an additional $50 million, and the appointment of Kouki Harasaki, Ph.D., founding and managing partner of Bioluminescence Ventures (BLV), to the company’s board of directors.
  • The company recently concluded a final extension to its Series B financing, raising an additional $50 million, for a total of $260 million in funding.
  • At BLV, we focus on funding next-generation therapeutics platforms and developing first- and best-in-class programs.
  • ReCode, with its cutting-edge genetic medicine platform, is well aligned with our mission,” said Dr. Harasaki.

Jeito Capital co-leads EUR 65 million (USD 71 M) financing in Corteria Pharmaceuticals, a French biopharmaceutical company developing novel treatments for cardiovascular diseases

Retrieved on: 
Thursday, September 7, 2023
OrbiMed, Obesity, Heart failure, Do Meu Jeito, USD, Doctor of Philosophy, Sarcopenia, Science, MD, Patient, Mortality, Cardiology, Pharmaceutical industry, Dietary supplement, Sanofi

The oversubscribed financing was co-led by new investors Jeito and Orbimed, with participation from existing investors Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, and Omnes Capital.

Key Points: 
  • The oversubscribed financing was co-led by new investors Jeito and Orbimed, with participation from existing investors Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, and Omnes Capital.
  • Corteria was founded in 2021 by Sanofi’s former head of cardiovascular research, Philip Janiak and Marie-Laure Ozoux, former cardiovascular project leader at Sanofi, around two cardiovascular programs in-licensed from Sanofi2.
  • Proceeds from the financing will be used to advance the Company’s heart failure pipeline into the clinic.
  • Andreas Wallnoefer, Partner at Jeito Capital and with strong industry experience in the cardiovascular field, will join Corteria’s Board of Directors.

Exome Asset Management Names Alex Forschner and Joseph Narvaez to Corporate Office

Retrieved on: 
Wednesday, September 6, 2023
Asset Management, Professional Services, Finance, Senior, Partner, NetworkManager, Partner (business rank), Assets under management, Spell Capital Partners, Corporate Office Properties Trust, OrbiMed, AUM, Office, Corporation, Madison Avenue, Growth, Security (finance), Exome

Exome Asset Management LLC (“Exome”), an innovative asset management company focusing on investing in public markets across the worldwide healthcare industry, today announced that Alex Forschner and Joseph Narvaez have joined Managing Partner and Founder Sam Isaly as Partners in the firm’s Corporate Office.

Key Points: 
  • Exome Asset Management LLC (“Exome”), an innovative asset management company focusing on investing in public markets across the worldwide healthcare industry, today announced that Alex Forschner and Joseph Narvaez have joined Managing Partner and Founder Sam Isaly as Partners in the firm’s Corporate Office.
  • Mr. Forschner has been promoted to President and Mr. Narvaez has been promoted to Chief Operating Officer.
  • Both Mr. Forschner and Mr. Narvaez are founding Partners of the firm.
  • Prior to joining Exome, Mr. Narvaez served as a Network Manager at OrbiMed Advisors LLC, where he managed the firm’s IT systems.

Star Therapeutics Raises $90 Million Financing to Accelerate Its Pipeline of Novel Antibody Therapies and Growth of Its Portfolio Companies

Retrieved on: 
Tuesday, September 5, 2023
Biotechnology, Other Health, Health, Pharmaceutical, Clinical Trials, OrbiMed, QIA, General partnership, Partner (business rank), Doctor of Philosophy, Star, Von Willebrand disease, Patient, Hematology, Biology, Growth, Therapy, Qatar Investment Authority, Pharmaceutical industry, MD

Star Therapeutics , a biotechnology company interrogating novel biology to develop life-changing therapies, today announced the closing of an oversubscribed $90 million Series C financing to continue growth of its first-in-class antibody therapies and portfolio companies.

Key Points: 
  • Star Therapeutics , a biotechnology company interrogating novel biology to develop life-changing therapies, today announced the closing of an oversubscribed $90 million Series C financing to continue growth of its first-in-class antibody therapies and portfolio companies.
  • Including this Series C round, Star Therapeutics has raised over $190 million since inception to create numerous portfolio companies.
  • This novel therapy is being developed by Vega Therapeutics, a Star portfolio company focused on underserved blood disorders.
  • We look forward to supporting Star as it continues to be an innovation engine for transformative therapies."

FORE Biotherapeutics Announces $75M in Series D Financing and CEO Transition

Retrieved on: 
Wednesday, August 23, 2023
Oncology, FDA, Health, Clinical Trials, Pharmaceutical, Biotechnology, HBM, Doctor of Pharmacy, OrbiMed, Samsung Securities, American Society of Clinical Oncology, Venture round, BRAF, Pharmacist, ASCO, Patient, Wellington Management Company, Growth, Society, Pharmaceutical industry, Management

FORE Biotherapeutics today announced the closing of its $75 million Series D financing, led by the SR One and co-led by Medicxi and joined by existing investors.

Key Points: 
  • FORE Biotherapeutics today announced the closing of its $75 million Series D financing, led by the SR One and co-led by Medicxi and joined by existing investors.
  • In connection with the financing, Giovanni Mariggi, Partner at Medicxi, was appointed to FORE Biotherapeutics’ Board of Directors.
  • “FORE Biotherapeutics is well-positioned to deliver on the promise of plixorafenib, which has demonstrated promising single-agent activity against BRAF-altered tumors, including primary central nervous system tumors.
  • “We welcome Shawn as interim CEO and Board member as we enter this next phase of growth for the company.

Valneva Announces Extension of Existing Loan Agreement

Retrieved on: 
Thursday, August 17, 2023
Valneva SE, Euronext Paris, VLA, FDA, Chikungunya, Saint-Herblain, OrbiMed, Pharmaceutical industry

Saint-Herblain (France), August 17, 2023 – Valneva SE (Nasdaq: VALN; Euronext Paris: VLA), a specialty vaccine company, today announced an agreement to increase the principal amount of its existing $100 million senior secured debt financing agreement with funds managed by leading U.S. healthcare investment firms Deerfield Management Company and OrbiMed.

Key Points: 
  • Saint-Herblain (France), August 17, 2023 – Valneva SE (Nasdaq: VALN; Euronext Paris: VLA), a specialty vaccine company, today announced an agreement to increase the principal amount of its existing $100 million senior secured debt financing agreement with funds managed by leading U.S. healthcare investment firms Deerfield Management Company and OrbiMed.
  • The add-on loan facility provides Valneva with immediate access to $50 million, with an additional $50 million available at the Company’s discretion until December 31, 2023.
  • The original loan agreement was signed in February 20201.
  • Valneva announced amendments to the terms in January 20212 and upsizing in April 20223.

Gracell Biotechnologies Reports Second Quarter 2023 Unaudited Financial Results and Provides Corporate Update

Retrieved on: 
Monday, August 14, 2023
Janus, Exercise, Lender option borrower option, IIT, RA, CD19, SCR, HLA, OrbiMed, DLBCL, ADS, Multiple myeloma, Cancer, Research, Commencement at Central Connecticut State University, ASCO, Patient, Investment, Graceling, B-ALL, SAN, TME, EHA, Webcast, BCMA, RRMM, SMART, ORR, Conference, Pharmaceutical industry, Security (finance), Vaccine, Cryptocurrency, Broadcasting

ET today

Key Points: 
  • ET today
    SAN DIEGO and SUZHOU, China and SHANGHAI, China, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Gracell Biotechnologies Inc. (NASDAQ: GRCL) (“Gracell” or the “Company”), a global clinical-stage biopharmaceutical company dedicated to developing innovative and highly efficacious cell therapies for the treatment of cancer and autoimmune diseases, today reported second quarter unaudited financial results for the period ended June 30, 2023, and provided corporate updates.
  • “We are delighted with the significant milestones achieved in the past few months across our reprioritized pipeline.
  • The Phase 1b part of the RRMM US IND trial has commenced as patient screening is underway.
  • Financial Results for Second Quarter Ended June 30, 2023
    As of June 30, 2023, the Company had RMB1,188.0 million (US$163.8 million) in cash and cash equivalents and short-term investments.

AVM Biotechnology Announces that the National Cancer Institute has selected AVM Biotechnology as a Showcase Company for their 2023-2024 Small Business Innovation Research (SBIR) Investor Initiatives

Retrieved on: 
Wednesday, August 9, 2023
Biotechnology, Health, Pharmaceutical, Clinical Trials, Oncology, NIDDK, Human, Drug development, NOD, OrbiMed, CSO, SBIR, Clinical trial, Bone marrow, NHL, National Institutes of Health, Cancer, Multimedia, Research, National Cancer Institute, CAR, Type 1, Animal, AVM, Patient, Adoptive cell transfer, AbbVie, Johnson & Johnson, American Cancer Society, Leukemia, FDA, NCI, Safety, Disease, Pharmaceutical industry, TCR

AVM Biotechnology has been selected as a 2023-2024 National Cancer Institute (NCI) showcase company for the SBIR Investor Initiatives.

Key Points: 
  • AVM Biotechnology has been selected as a 2023-2024 National Cancer Institute (NCI) showcase company for the SBIR Investor Initiatives.
  • AVM Biotechnology has previously been awarded five (5) highly competitive National Institute of Health SBIR grants; three (3) of these from the NCI.
  • Dr. Deisher and the entire team at AVM Biotechnology are committed to bringing drugs to cancer patients that fight the cancer, not the patient.
  • (Photo: Business Wire)
    “We are excited to have been selected, after competitive review, to be a 2023-2024 showcase company for the NCI’s SBIR Investor Initiative.

ADARx Pharmaceuticals, A Leader in Next Generation RNA Therapeutics, Announces Oversubscribed $200 Million Series C Financing

Retrieved on: 
Wednesday, August 9, 2023
Health, Health Technology, Genetics, Clinical Trials, Research, Science, Biotechnology, HBM, Armed Forces and Police Savings & Loan Association, Inc., Therapy, OrbiMed, Hereditary angioedema, Eli Lilly and Company, RNA, Doctor of Philosophy, Messenger, Medication, Small RNA, Black Rock, Patient, Series, DSM-IV codes, Pharmaceutical industry

ADARx Pharmaceuticals, Inc. (“ADARx” or “the Company”), a clinical stage biotechnology company developing next generation RNA therapeutics, today announced the successful close of an oversubscribed $200 million Series C financing.

Key Points: 
  • ADARx Pharmaceuticals, Inc. (“ADARx” or “the Company”), a clinical stage biotechnology company developing next generation RNA therapeutics, today announced the successful close of an oversubscribed $200 million Series C financing.
  • ADARx’s existing investors, Ascenta Capital, Lilly Asia Ventures, OrbiMed, and SR One Capital Management also participated.
  • The proceeds from the Series C financing will be used to further advance ADARx clinical programs including ADX-324 and ADX-038.
  • In conjunction with financing, Dr. Sun and Dr. Yu will join ADARx’s Board of Directors.

Verrica Pharmaceuticals Reports Second Quarter 2023 Financial Results

Retrieved on: 
Tuesday, August 8, 2023
Therapy, Table, OrbiMed, WEST, Bank statement, Phase II, Wart, CMC, GAAP, Part, H.262/MPEG-2 Part 2, Dermatology, Patient, Molluscum contagiosum, Part Two, Research, FDA, Carcinoma, Skin, Vaccine, Pharmaceutical industry, Cryptocurrency, Reinsurance, Bank

– In July, FDA approved YCANTH™ for the treatment of molluscum, a highly contagious viral skin infection affecting approximately 6 million people annually in the United States, primarily children –

Key Points: 
  • – In July, FDA approved YCANTH™ for the treatment of molluscum, a highly contagious viral skin infection affecting approximately 6 million people annually in the United States, primarily children –
    WEST CHESTER, Pa., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced financial results for the second quarter ended June 30, 2023.
  • Verrica recognized collaboration revenues of $0.2 million in the second quarter of 2023 and 2022 related to the Clinical Supply Agreement with Torii Pharmaceutical Col, Ltd (Torii).
  • Research and development expenses were $5.7 million in the second quarter of 2023, compared to $3.9 million for the same period in 2022.
  • General and administrative expenses were $5.9 million in the second quarter of 2023, compared to $5.2 million for the same period in 2022.