Finance Watch: CARB-X Refills Coffers To Help Biopharmas Fight Resistant Bacteria
Non-Profit Gains Up To $370m In New Funds
Private Company Edition: The global accelerator has new commitments from HHS and the Wellcome Trust. Also, Apollo buys into Sofinnova Partners with an up to €1bn investment, Castle Creek raised $124.6m in private funding this year in lieu of an IPO and Remix closed a $70m series B round.
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Public Company Edition: Applied Molecular Transport, Scholar Rock, Agios and others join many of their peers in revising their strategies and downsizing their teams. Also, Zentalis grossed $200m from a follow-on offering and OKYO Pharma went public in the year’s smallest biopharma IPO in the US.
Cambridge Innovation Capital partner Robert Tansley tells Scrip that the UK has "a really strong history of innovation in biological sciences and Cambridge has been at the forefront” but this has not equated to a substantial number of biotech companies “where we have lagged significantly behind the US."
The potential for RNA medicines to achieve holy grail goals – reaching undruggable targets and bringing drugs to market faster – has Pfizer, Lilly, Novartis and others in a deal-making frame of mind.