Moderna has entered into a development and commercialization funding agreement with asset management firm Blackstone Life Sciences to help advance its pipeline of flu vaccine candidates.
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Stemirna Therapeutics has halted an early stage trial for a new cancer vaccine, two of its trial researchers said, in a fresh setback to the company, which has been grappling with tight funding.
Sionna Therapeutics announced it raised another round of funding as the company looks to challenge Vertex Pharmaceuticals’ dominant cystic fibrosis business.
Rare diseases currently afflict 300 million people worldwide and 30 million people in the U.S. alone. However, 95% of these diseases lacked an FDA-approved treatment as of January 2023. One reason, industry leaders say, is cost.
Neurona Therapeutics on Thursday announced that it has secured $120 million in funding, which will help it advance its pipeline of investigational off-the-shelf cell therapies.
The biopharma industry has been largely underfunding vaccine development despite its strong potential to prevent diseases and reduce hospitalizations and deaths, according to a report published by industry advocacy group Biotechnology Innovation Organization.
Global health officials have repeatedly warned about the rise of antimicrobial-resistant microbes due to the misuse and overuse of antibiotics, which encourages microorganisms to evolve into “superbugs.”
“Fewer new funds (are) being raised and so we have the opportunity and the advantage of being able to start companies and support our current companies with a tremendous amount of capital,” said Dr. Beth Seidenberg, founding managing director at Westlake Village.
Founded in 2021, Bitterroot is built on the research of its cofounders and directors, Irving Weissman and Nicholas Leeper, both from the Stanford University School of Medicine. Their work has focused on the emerging field of cardio-immunology, which seeks to understand the connections and interplay between the immune system and cardiovascular health.
The Massachusetts-based company has claimed the year’s largest fundraise so far and secured a powerhouse R&D partner in Novo Nordisk to develop gene editing medicines.
