Scorpion Nabs $108m, Biopharma Veterans For Precision Oncology 2.0
Serial Entrepreneur Gary Glick Previously Founded IFM, Lycera, FirstWave
The company has assembled small molecule discovery capabilities for the development of targeted cancer drugs that it believes rivals big pharma efforts and will fulfill patients’ unmet needs.
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Axel Hoos will become the CEO of a Boston-based cancer start-up focusing on targeted precision drugs. He talked to Scrip about the decision to leave GSK after 10 years.
Private Company Edition: The pre-J.P. Morgan Healthcare Conference financing news deluge during the first week of 2021 included several significant venture capital deals, including a $226m series B round for Affinivax, Ikena’s $120m series B round and an $88m series A round for Aro.
Public Company Edition: It took 256 days for 2021 to surpass the 2020 record of 86 biopharma initial public offerings in the US in one year. Also, Procaps raised $115m ahead of its SPAC merger and aTyr and bluebird raised $75m each.