Venture Funding Deals: Locana Gets Ready To Take On ALS, Huntington's With Gene Editing
The series A fundraising will help Locana bring CRISPR gene editing to diseases with dysfunctional RNA. Artizan and OncoMyx are among the other firms with recent series A rounds.
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An Alliance for Regenerative Medicine (ARM) report shows big Q1 numbers for venture capital and partnership deals. Also, mid-May VC deals surge globally across therapeutic areas, Biogen pushes back against a bargain-hunting investor and recent public company financings.
During Q3, biopharmas brought in an aggregate $36.6bn in financing and device company fundraising totaled $3.3bn; while in vitro diagnostic firms and research tools players raised $3.4bn.
Seattle Genetics and Merck penned an agreement to globally develop and commercialize (on a co-exclusive basis) Seattle Genetics’ ladiratuzumab vedotin, an investigational antibody-drug conjugate in Phase II trials for breast cancer and other solid tumors. The deal has a potential value of over $4bn. While Gilead Sciences entered into a definitive agreement to acquire Immunomedics Inc. for $88 per share in cash, or approximately $21bn. The transaction is expected to close in Q4 2020. Financing reached $14.6bn in biopharma, $824m in devices and $1.9bn in diagnostics.