Korro’s $116m Series B Round Will Advance Pipeline Beyond AATP
Hoping to bring a candidate for the alpha-1 disorder into the clinic in 2023, Korro’s latest funding is meant to enable development of a rare CNS disorder drug and a third drug for a more prevalent indication.
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Both Atlas and Foresite Capital announced new funds focused on start-ups. Also, Flagship launched Vesalius with $75m in initial funding, Innoviva sold $225m in notes, Hookipa priced a $75m follow-on offering and job cuts were revealed by Epizyme, Flexion, Deciphera and Gemini.
Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.
Novartis Pharmaceuticals US head Victor Bulto talks to Scrip about the launch of Leqvio; the cholesterol-lowering medicine now approved by the US FDA.