Rallybio Leverages Founders’ Experience, $145m In New Cash For Rare Diseases
Former Alexion execs and Rallybio co-founders Martin Mackay, Steve Uden and Jeffrey Fryer closed a series B venture capital round to take three candidates into the clinic and acquire additional programs.
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Emerging Company Profile: Armed with the insight of its ex-Alexion leaders, Rallybio is eyeing a spate of deals to develop and commercialize transformative drugs for rare diseases.
Public Company Edition: This year is just six initial public offerings away from matching 2020’s record-breaking total of 86 biopharma IPOs in the US. Also, Idorsia raised $662.5m through the sale of convertible bonds and Cytokinetics closed a $316.3m follow-on offering.
The final Phase III readout for Ilaris (canakinumab) in NSCLC, this time in the adjuvant setting, missed the primary endpoint. One more lung cancer trial is under way, a Phase II neoadjuvant study.