Karuna Upbeat On New Antipsychotic Mechanism Data
Phase III Studies Could Begin For The Combination Therapy Next Year
Karuna Therapeutics’ top-line Phase II data for a combination of a centrally acting muscarinic agonist, xanomeline, and a peripherally acting muscarinic antagonist, trospium, were greeted with enthusiasm by investors and the Boston, MA-based biotech.
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ARCH Venture Partners brought in $2.975bn for its latest fund to give additional long-term investors a place at the table as the VC firm creates, builds and supports new early-stage biotechnology start-ups.
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The concept of a parent company with operating subsidiaries is becoming increasing common in biotech. The first to do it, Daphne Zohar, who co-founded PureTech back in 2005, tells Scrip how the company has made that model work.
Finance Watch: DRI Healthcare’s Canadian IPO Enables More Royalty Deals
Public Company Edition: US initial public offerings are reawakening from a brief nap as Prometheus and Longboard prepare IPOs for launch. Also, Halozyme sells $700m worth of notes and Karuna’s $250m stock sale leads recent follow-on offerings.