Good day. Biotechnology startup Growth Therapeutics Inc. has collected $80 million to hunt for oral medicines that make a big impression on neurodegenerative illnesses.
Conventionally, medicines have focused illness proteins. Boston-based Growth and another corporations are actually additionally creating medication that concentrate on RNA concerned in producing illness proteins.
Ionis Prescription drugs Inc.’s Tegsedi, for instance, treats sufferers with nerve injury stemming from hereditary ATTR amyloidosis, a illness through which the physique produces a mutant type of the TTR protein. Tegsedi, which is injected, targets RNA to scale back the manufacturing of TTR protein, in accordance with Ionis.
Growth is creating RNA-targeted small-molecule medication for illnesses with few therapy choices. They embody myotonic dystrophy kind 1, a illness affecting muscle, cardiac and mind perform; the motor illness amyotrophic lateral sclerosis; frontotemporal dementia, a extreme type of dementia; and tauopathies, or mind issues marked by an overabundance of sure types of the protein tau.
By going upstream of proteins and focusing on RNA, Growth hopes to make a profound impression on these illnesses, stated Chief Govt Renato Skerlj. Growth, which raised this Sequence B funding from Cormorant Asset Administration, and others, plans to make use of the brand new capital to advance its platform and transfer its preliminary medication towards medical trials.
And now on to the information…
Blood storage expertise. Hemanext Inc. has secured new venture-capital funding forward of plans to hunt U.S. regulatory authorization for a medical gadget designed to enhance blood storage and assist sufferers who rely closely on donated blood.
Hemanext has collected $15 million in new funding and has now raised a complete of greater than $100 million.
Donated blood is used extensively in medical care, together with within the therapy of traumatic accidents and sufferers with blood issues equivalent to sickle cell illness. Hospitals’ want for blood is rising as they atone for surgical procedures following coronavirus pandemic-related delays.
Hemanext goals to enhance the blood provide by rising the standard of saved pink blood cells. That might result in advantages equivalent to less-frequent blood transfusions for sufferers. The corporate plans to check its expertise in varied varieties of sufferers, together with these with burns, sickle cell illness and blood cancers generally known as myelodysplastic syndromes.
“We’re at all times residing in a state of concern about whether or not or not we’ll have the availability to satisfy the [needs] of each American.”
— Biree Andemariam, a professor of medication at UConn Well being, and a medical adviser to Hemanext, referring to the nation’s provide of donated blood
Different VC Information
Various-Milk Firm Excellent Day Raises $350 Million
Excellent Day Inc. raised $350 million in a late-stage funding spherical, valuing the non-animal dairy startup at roughly $1.5 billion and setting the stage for an preliminary public providing, The Wall Avenue Journal reviews. Singapore’s Temasek and Canada Pension Plan Funding Board led the Sequence D funding spherical for the California firm, co-founders Ryan Pandya and Perumal Gandhi instructed The Wall Avenue Journal. Different buyers embody Walt Disney Co. Govt Chairman Robert Iger. Since its founding in 2014, Excellent Day, which makes use of fermentation expertise to provide animal-free dairy proteins and counts actor Leonardo DiCaprio as an adviser, has raised $750 million.
Vensana Capital, a venture-capital and growth-equity agency centered on medical expertise, closed its second fund at its laborious cap of $325 million. Vensana Capital II LP will proceed to again startups within the medical gadgets, diagnostics and data-science, life-science instruments, digital well being and tech-enabled companies sectors. With workplaces in Minneapolis and Vienna, Va., Vensana Capital raised $225 million for its debut fund two years in the past.
Hadean Ventures held the primary closing of its second fund at EUR90 million ($104 million) to proceed investing in pharma, biotech, medtech diagnostics and digital well being startups, principally in Europe. The brand new fund is supported by over 30 restricted companions together with OPF, Saminvest, Argentum and Investinor. Hadean Ventures has workplaces in Oslo and Stockholm.
BioAdvance, which makes early-stage life-science investments within the mid-Atlantic area, stated Shahram Hejazi was appointed managing director and chief government, changing Barbara Schilberg, who’s retiring after nearly 20 years in that place. Earlier than becoming a member of BioAdvance, Mr. Hejazi was president of Kodak’s life-science division (later generally known as Carestream Molecular Imaging), and CEO of Zargis Medical Corp.
Cleerly Inc., a coronary heart disease-care supplier, appointed Brandon Atkinson as chief working officer and Nick Nieslanik as chief expertise officer. Mr. Atkinson was most not too long ago chief government of 46 Summits Consulting. Mr. Nieslanik was vice chairman of engineering at Teladoc Well being. Earlier this 12 months, Cleerly raised a $43 million Sequence B spherical from buyers together with Vensana Capital, LRVHealth, New Leaf Enterprise Companions, DigiTx Companions and Cigna Ventures.
Healthcare automation platform Lumeon named Breht Feigh to the publish of chief monetary officer. He was most not too long ago CFO of Press Ganey Associates. Lumeon relies in Boston and London, and is backed by buyers together with Optum Ventures, Endeavour Imaginative and prescient, LSP and Amadeus Capital Companions.
Kipu, a expertise associate for psychological well being and habit service suppliers, acquired Avea Options, whose software program helps therapy facilities streamline billing. Phrases weren’t disclosed. TCV counts Miami-based Kipu in its portfolio.
Elligo Well being Analysis Inc., an Austin, Texas-based startup that gives doctor practices with expertise and companies to assist them take part in medical trials, accomplished a $135 million Sequence E spherical. Morgan Stanley Growth Capital and Ally Bridge Group led the funding, which included participation from Norwest Enterprise Companions, Cerner, Hatteras Enterprise Companions, Noro-Moseley Companions, Piper Sandler Service provider Banking, Shumway Capital and Syneos Well being. Together with the funding, Elligo Well being Analysis acquired ClinEdge for an undisclosed quantity. Melissa Daniels, managing director and basic associate at Morgan Stanley Growth Capital, joined Elligo’s board.
Wayspring, a Nashville, Tenn.-based substance use disorder-care supplier previously generally known as axialHealthcare, picked up a $75 million funding. Valtruis, a newly fashioned value-based care portfolio firm of Welsh, Carson, Anderson & Stowe, led the spherical. Centene Corp., CareSource, HLM Enterprise Companions, Highmark Ventures, .406 Ventures, Blue Enterprise Fund and Oak HC/FT additionally participated within the funding.
Anji Pharma, a Cambridge, Mass.- and Shanghai-based biotech firm, landed $70 million in Sequence B funding from CR Capital. The corporate’s medical pipeline features a supplier of glucose administration in sufferers with Sort 2 diabetes and superior power kidney illness, in addition to a therapy for practical constipation.
Lifebit Biotech Ltd., a biomedical information supplier with workplaces in London, San Francisco and Hong Kong, raised $60 million in Sequence B funding. Tiger International Administration led the spherical, which included participation from Eurazeo, Pentech Ventures and Beacon Capital.
Stellar Well being, a New York-based startup whose expertise allows primary-care suppliers to ship real-time notifications and action-based incentives to sufferers, secured greater than $60 million in Sequence B financing. Basic Atlantic led the spherical, which included extra assist from Point72 Ventures, Main Enterprise Companions and others.
MFine, an Indian digital well being startup, nabbed $48 million in Sequence C funding. Moore Strategic Ventures and Beenext co-led the spherical, which included contributions from Stellaris Enterprise Companions, SBI Holdings, Heritas Capital, Prime Enterprise Companions and Alteria Capital.
Wider Circle, a Redwood Metropolis, Calif.-based startup that works with well being plans to ship hyper-local care packages that join neighbors for higher well being, snagged a $38 million Sequence B spherical. Lead investor AmeriHealth Caritas was joined by Blue Enterprise Fund, Chicago Ventures and others within the new funding.
NovaSignal Corp., a Los Angeles-based startup specializing within the evaluation and administration of mind well being, closed a $37 million Sequence C1 spherical led by Alpha Edison and Reimagined Ventures.
Kytopen Corp., a Cambridge, Mass.-based supplier of a scalable expertise for engineered cell therapies, collected $30 million in an oversubscribed Sequence A spherical. Northpond Ventures led the funding, which noticed participation from the Engine, Horizon Ventures, Mass Ventures and others. Northpond’s Adam Wieschhaus and the Engine’s Theresa Tribble will be part of the board.
Important, an Atlanta-based supplier of software program for hospital emergency departments, snagged $15 million in Sequence A funding. Transformation Capital led the spherical, which included participation from First Spherical Capital and Threshold Ventures.
Genetika+, a Jerusalem- and Boston-based startup making use of personalised drugs to behavioral well being, fetched a $10 million Sequence A spherical. GreyBird Ventures led the funding, which included assist from Meron Capital, Jumpspeed Ventures and Sapir Enterprise Companions.
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Across the Net
Mass Basic Brigham will not provide Biogen’s new Alzheimer’s drug. (Boston Globe)
Pharmaceutical CEOs have a brand new high concern: recruiting and retaining workers. (Endpoints Information)
The tedious course of of coaching computer systems to consider drugs. (STAT Information)
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September 30, 2021 10:39 ET (14:39 GMT)
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