Kronos Bio Doubles Its Cash With $155m Financing
Funding Will Back Clinical Trials For Two Lead Assets
The cancer drug developer led by former Gilead R&D head Norbert Bischofberger will start a registrational trial for its recently acquired SYK inhibitor and the first trial for its CDK9 inhibitor.
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Initial public offerings by Norbert Bischofberger’s start-up as well as Spruce Biosciences and Shattuck Labs bring the US total to 64 in 2020. Also, the pipeline of health care SPACs is growing, Everest and Genor went public in Hong Kong, Idorsia leads recent follow-on offerings and Corbus cuts jobs.
Private Company Edition: Several drug developers targeting neurological diseases raised venture capital recently. In addition to Nura Bio, Encoded Therapeutics revealed a $135m series D round. Also, Longwood closed a $170m fund and Flagship launched Omega Therapeutics with $85m.
The drugs major believes it has assembled a pipeline that is looking well stocked for several years to come.