Biogen Builds Out Parkinson's Pipeline With Denali Deal
Biogen will pay Denali $560m up front plus a $465m equity investment in exchange for co-development and co-commercialization rights to clinical-stage LRRK2 inhibitors for Parkinson's disease.
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Public Company Edition: Prime Medicine raised $175m, making its offering the sixth-largest out of 19 biopharma IPOs in the US this year. Also, Oculis and AUM opted to go public via SPAC mergers, Insmed raised $775m from multiple financings and Dice capitalized on positive data with a $300m offering.
Private Company Edition: Westlake Village BioPartners-founded Neuron23 will take the LRRK2 inhibitor NEU-723 for Parkinson’s disease into human testing before the end of 2022. Also, Celsius raised $83m in fresh VC cash and ITM added another €33m to its recent €25m equity financing.
Flagship, the investor behind COVID-19 success story Moderna, has raised a huge fund that will be used to create and develop its own companies before spinning them off.