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Latest From Dewpoint Therapeutics
Biotech stock indices have seen a recent recovery but remain well below their 2021 peaks raising questions about the likelihood of raising money for R&D. The number of companies announcing leadership changes, shifting pipeline priorities and job cuts is rising as a result.
EcoR1 and Casdin/Corvex took their second and third special purpose acquisition corporations public. Also, Ionis sold notes to buy back older notes and fund operations as it cut 70% of Akcea’s staff. In venture capital, ValenzaBio raised $70m and RA boosted Metagenomi’s series A to $75m.
Pfizer, Sanofi, Bristol Myers Squibb, Gilead’s Kite, Lilly’s Dermira, Janssen and Biogen among the major companies announcing transactions this week.
Buoyed by an $81m Series A financing round, Faze Medicines joins Dewpoint Therapeutics and Nereid Therapeutics in the race to develop small-molecule drugs targeting biomolecular condensates, an emerging field of cell biology.
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