G1, Revolution lead $116m in new VC funding
This article was originally published in Scrip
Count G1 Therapeutics and Revolution Medicines among the biotechnology companies benefitting from a 2014 boom in venture capital funding that has spilled over into 2015.
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The deal worth up to $576m gives Merck what Calporta founding investor Avalon believes is the most advanced program targeting TRPML1, a lysosomal ion channel implicated in neurodegenerative diseases when the lysosome stops clearing debris from cells.
Private Company Edition: Revolution Medicines follows its Sanofi partnership and Warp Drive Bio buyout with a series C venture capital round to fund its RAS pathway inhibitors in cancer. The financing came during a boom in $100m-plus VC financings, including BioNTech's $325m series B.
Private Company Edition: Martin Mackay and two other former Alexion executives co-founded the rare disease start-up in January with a $37m Series A to kick things off. Also, Innovent raises $150m in venture cash, Tmunity adds $35m and Third Rock launches Cedilla.