Immune-Focused Discovery Firm Alpine Goes Public With Nivalis Merger
Mitchell Gold, who once led Dendreon, will lead the company, which obtains $90m in funding to bring forward three potential drug candidates for inflammatory conditions and cancer.
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VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.
Deal Snapshot: Set to begin a Phase II study that Alpine will complete, ALPN-101 is a dual inhibitor of CD28 and ICOS that may offer a new treatment option in SLE.
Public Company Edition: The usual mid-January surge in public offerings hasn't happened this year, since the SEC can't process new filings, but Alnylam, Acceleron and others apparently were prepared for a lengthy shutdown. Also, ARM reports cell and gene therapy financing data.