Venture capitalist Chamath Palihapitiya is raising $800 million to finance four more special purpose acquisition companies (SPAC) that will be focused on taking biotech companies public.
2021 is shaping up to be another banner year for biotech companies. According to BioSpace, funds appear to be in near-endless supply as companies advance next-gen technologies and therapeutics for the health of all. BioSpace reviews a few raking in cash for their programs.
BioSpace takes a look at Series A financing rounds for several biotech companies: San Francisco-based Esker Therapeutics; England’s Mogrify Limited; Duke University spinout Isolere Bio; and Sunnyvale, California-based BridGene Biosciences.
Eleven months after launching with $60 million in hand, Ventus Therapeutics raised another $100 million to drive the company’s pipeline toward the clinic.
Centessa, based in Cambridge, Mass. and London, launched as a “novel asset-centric pharmaceutical company.”
Basel-based Lonza AG is moving to sell the company’s Lonza Specialty Ingredients division to private equity firms Bain Capital and Cinven for CHF 4.2 billion ($4.7 billion), completing a planned pivot to focus on Lonza Pharma, Biotech & Nutrition business.
The lack of face-to-face meetings during the Covid-19 pandemic caused the U.S. Food and Drug Administration to implement regulatory workarounds to stay on top of drug and biologics approvals, and a news feature published in Nature Biotechnology suggests these workarounds are here to stay.
Seattle-based AltPep Corporation raised $23.15 million in a Series A financing round to take the company’s breakthrough amyloid targeting platform to development.
Publicly traded companies that have been heavily involved in developing therapies and vaccines for Covid-19 have experienced significant spikes in their stock prices from March 2020 to January 2021, including Germany’s BioNTech, which surged 187% in one year.
DBV Technologies unveiled a global restructuring plan that will result in a reduction of more than 200 jobs.