Venture Funding Deals: Vedanta Raises More Cash To Advance Microbiome Candidates
Executive Summary
Cancer drug-developer Black Diamond emerges from stealth mode with Series A and closes Series B in the same month, while aging-focused Juvenescence closes its initial tranche and looks complete Series B by the end of the quarter.
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BridgeBio’s $299m Gives It Two More Years Of Runway To Launch New Companies
The company emerged in 2017 with $135m to spin out rare genetic disease-focused subsidiaries. Now with 18 start-ups and two near-term filings for drug approvals, BridgeBio will fund existing programs as they progress and continue to buy new assets.
Deals in Depth: February 2024
Just one $1bn+ alliance was penned in February, compared to ten in the previous month. In the top alliance by deal value, Neomorph and Novo Nordisk entered into a potential $1.46bn agreement for the discovery, development, and commercialization of molecular glue degraders (MGDs) for cardiometabolic and rare diseases. The collaboration brings together Novo Nordisk's expertise in those disease areas with Neomorph's MGD discovery platform. Neomorph will lead discovery and preclinical activities against selected targets with Novo Nordisk having the right to exclusively pursue further clinical development and commercialization of the compounds.