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Latest From Erasca Inc.
Finance Watch: Public Biopharma Firms Take Advantage Of Relative Upswing
Public Company Edition: Prometheus brought in $500m from a follow-on offering after reporting positive mid-stage results for its TL1A inhibitor. Even Novavax, struggling to make money from its COVID-19 vaccine, raised cash in dual offerings, but its valuation dropped significantly afterward.
Finance Watch: The Bigger The Better? Erasca, Imago Rise After IPOs
Public Company Edition: Three $100m-plus US initial public offerings launched on 15 July after two smaller biopharma IPOs earlier in the month. Also, Gelesis announced a SPAC merger, Brii and Amniotics launched ex-US IPOs, and Intellia, Cerevel and Kymera priced large follow-on offerings.
Finance Watch: Two New VC Funds Target Early Stage And Beyond
Private Company Edition: venBio’s new fund plus Ysios Capital’s recent €216m ($260m) fund adds up to $810m in fresh venture capital for life science companies. Also, Nikang and Esco attracted $200m each in VC investment, Pulmocide closed a $92m series C round and Stablix launched with $63m.
Erasca Unveils First Clinical Candidates, Aims To Create A MAPK Clamp
Former Ignyta CEO’s well-funded Erasca obtained its first clinical-stage precision oncology candidates from NiKang and Asana, eyeing a first-in-class approach to RAS/MAPK-driven cancers.
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