Finance Watch: Platforms Are Great, But Investors Want To See Drug Candidates
VCs Say Start-Ups Need Long-Term Thinking, Near-Term Milestones
Private Company Edition: Panelists at Biocom’s Global Life Science Partnering Conference noted a shift in the types of early-stage drug developers getting venture funding going forward. In recent financings, Synthego closed a $200m series E and Plexium raised $102m.
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Silicon Valley Bank’s Failure Rattles Investors In Biopharma Sector
Investment bank analysts, VC funds and biopharma companies all sought to calm investors’ nerves as a go-to financial institution for tech and biotech collapsed.
Finance Watch: Emalex Raises $250m To Fund Phase III Tourette’s Trial
Private Company Edition: The Paragon Biosciences-founded Emalex previously raised $35m when ecopipam was in Phase II. Also, Catalio Capital launches a “special situations” fund, Zenas raises $118m to develop a pipeline of autoimmune disease treatments and Lusaris emerges with $60m.
Deal Watch: Dragonfly Adds Gilead To Its List Of Big-Name Partners
AbbVie inks collaboration and option deal focused on targeted protein degradation with Plexium. Cend and Calabrius merge in an all-stock transaction.