Boehringer Doubles Down On Deafness With Rinri Backing
After making a move into hearing loss with an investment into Acousia Therapeutics, BI is backing a UK biotech which hopes to reverse neuropathic sensorineural hearing loss.
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Private Company Edition: VC mega-rounds boosted the Q1 2021 total. Also, new funds from Versant, The Column Group and Rapha Capital keep cash flowing into biopharma; up to $525m is invested in Exscientia; and Arch Oncology and Boundless Bio raised $105m each, while Forge brought in $120m.
The German group has signed a second deal with Gubra to develop poly-agonist peptides for obesity that could be worth up to €240m.
The head of the German family-owned firm's venture fund tells Scrip that investing very early in promising start-ups gives Boehringer Ingelheim "a little bit of a head start" on rival pharma companies in identifying technologies that could translate into therapies five years down the line .