Start-Up Quarterly Statistics: Private And Public Firms Were Prolific Fundraisers
A review of biopharma start-up dealmaking and financing activity from April through June 2017, based on data from Strategic Transactions, showed that fundraising activity more than doubled compared with the first quarter.
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Private Company Edition: XtalPi raised $318.8m for its AI-based drug discovery platform and machine learning-enabled Flagship start-up Valo Health has brought in nearly $100m. XtalPi had one of three recent venture capital mega-rounds for China-based companies.
Upon completion of Johnson & Johnson's $30bn acquisition of Actelion, Jean-Paul Clozel, the latter's outgoing CEO, aims to build a new European biopharma big-hitter – Idorsia – with the earlier-stage assets Actelion leaves behind. He's hoping that J&J's Janssen will soon opt in to rights to its lead candidate. Idorsia is preparing to launch onto the Swiss Stock Exchange with CHF1bn in cash at inception.
Takeda is aiming to get ahead in what it believes is an emerging area with big potential in immunotherapy: gamma delta T-cells. It has signed a deal with GammaDelta Therapeutics that gives it a purchase option on the UK-based, Abingworth-backed start-up. GammaDelta's CEO, former GSK executive Paolo Paoletti, and the head of Takeda's external innovation center, Dan Curran, spoke to Scrip.