BioPharma Updates, April 28th, 2025.
SciLeads’ BioPharma is updated daily, giving our clients the most current insights on biopharma organizations including Funding, Initial Public Offering, Mergers & Acquisitions, Partnerships, and more. This week’s updates are below with links to the organizations in the platform. If you don’t have BioPharma yet, start your free trial today.
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Funding
- Biolinq (CA, USA) raised $100M in Series C funding to support US regulatory approval and bring the first autonomous intradermal glucose sensor to market.
- Noveome Biotherapeutics (PA, USA) raised $51M in a Series E financing to advance clinical trials for the treatment of Necrotizing Enterocolitis (NEC) using its proprietary biologic, ST266.
- Field Medical (CA, USA) raised $40M in Series A funding to support the completion of two pilot studies for VT and AF and continue the development of its commercial PFA system.
- LTZ Therapeutics (Shenzhen, China) raised $40M in a Series A+ funding to advance a Phase I trial for LTZ-301, a myeloid engager immunotherapy for relapsed or refractory non-Hodgkin lymphoma.
- Grove Biopharma (IL, USA) raised $30M in Series A funding to advance its Bionic Biologics platform and drive lead oncology programs toward the clinic.
- Ace Vision Group (MA, USA) raised $29.4M in Series B funding to support the continued development of its Gen II VisioLite® Ophthalmic Laser for treating age-related vision loss.
- Overture Life (CA, USA) raised $20.6M in funding to support clinical research and product development aimed at making IVF more affordable and efficient.
- Ray Therapeutics (CA, USA) received an $8M California Institute for Regenerative Medicine (CIRM) grant to support the ongoing clinical development of RTx-015 for the treatment of retinitis pigmentosa (RP).
- CERo Therapeutics (CA, USA) raised $8M in funding to advance clinical trials for its engineered T cell therapeutics in liquid and solid tumors, and to address Nasdaq deficiencies and extend runway.
- Araceli Biosciences (OR, USA) raised $7.2M in seed funding to accelerate commercial expansion, scale manufacturing, and advance next-generation AI-driven product offerings in high-content imaging.
- Cytovation (Bergen, Norway) raised $6M in funding to advance CY-101 into a multi-national Phase 2 clinical trial for adrenocortical carcinoma.
- GenrAb (TX, USA) raised $5.6M in seed funding to accelerate the development of its neuroprotective antibody TGM-010.
- Ovo Labs (London, United Kingdom) raised $5M in seed funding to advance its therapeutics for improving egg quality in women over 35, targeting genetic errors in eggs to increase IVF success rates.
- Coologics (OH, USA) raised $3M in seed funding to accelerate the development and market release of Vlisse, a novel vaginal infection treatment.
- Ensysce Biosciences (CA, USA) raised $2.2M in funding to support continued development of its TAAP™ and MPAR® programs.
- Ivory (Mumbai, India) raised $1M in funding to improve its cognitive assessment technology and scale distribution across India.
- Alcyone Therapeutics (MA, USA) raised an undisclosed amount in funding to expand its collaboration with Nationwide Children’s Hospital and advance the development of CLN-301 for CLN3 Batten disease.
Emerging
- Granite Bio (Basel, Switzerland) launched with $100M in Series A and B funding to advance the development of its first-in-class antibodies for treating autoimmune diseases.
- Synthetic Design Lab (CA, USA) emerged from stealth with $20M in Seed funding to advance its SYNTHBODY therapeutic platform for targeted cancer treatments.
- Transneural Therapeutics (WA, USA), a spin out of CaaMTech (WA, USA) emerged from stealth to transform the treatment of neuropsychiatric and neurodegenerative diseases with novel neuroplastogens.
Post IPO Equity
- Rezolute, Inc. (CA, USA) raised $90M through an underwritten offering to support research and development, corporate expenses, and working capital needs.
- Verastem Oncology (MA, USA) raised $75M through a private placement to fund the potential launch of avutometinib and defactinib in recurrent low-grade serous ovarian cancer, continued clinical research and development, and general corporate purposes.
- Oryzon Genomics (Barcelona, Spain) raised ~$32M to advance clinical development of its CNS and oncology programs, support regulatory activities, and prepare for a potential dual listing on Nasdaq
- Innate Pharma (Marseille, France) raised $16M through an equity capital increase to support general corporate purposes, including extending its cash runway and advancing its pipeline.
- Vivoryon Therapeutics N.V. (Germany) entered a $16M standby equity purchase agreement with Yorkville Advisors Global to support preparations for a planned Phase 2b study in diabetic kidney disease.
- BriaCell Therapeutics Corp. (PA, USA) raised ~$13.8M through an underwritten public offering to support working capital requirements, general corporate purposes, and the advancement of business objectives.
- BioPorto Diagnostics A/S (Copenhagen, Denmark) raised ~$5M through a directed share capital raise to support the commercial launch of ProNephro AKI NGAL in the US and the preparation for FDA clearance of the test for adult use.
- Atomo Diagnostics (Leichhard, Australia) raised $3.1M through a capital raising to support general working capital needs, with specific use to be determined after the board renewal.
- Intensity Therapeutics (CT, USA) raised $2.35M through a public offering to support the enrollment of patients in the INVINCIBLE-4 Study, the treatment of existing patients in the INVINCIBLE-3 Study, and general corporate purposes.
- IGC Pharma (MD, USA) secured a $475K private placement through a share purchase agreement with newly appointed advisors to support general corporate purposes and the advancement of its Phase 2 CALMA trial for agitation in Alzheimer’s disease.
Post IPO Debt
- Invivyd (MA, USA) secured a $30M term loan facility to support regulatory and clinical advancement of its COVID-19 monoclonal antibody pipeline, including VYD2311, with future drawdowns contingent on meeting specified milestones.
- Sirona Biochem Corp. (Vancouver, Canada) raised $2.2M through a private placement of unsecured 12% convertible debentures with German investor Promura GmbH to support working capital, R&D, and commercialization of its anti-aging product line.
- Acura Pharmaceuticals (IL, USA) secured $200K in loans to support day-to-day operation and to cover ongoing expenses and help avoid significant reductions in operations or bankruptcy.
Mergers and Acquisitions
Jazz Pharmaceuticals (Dublin, Ireland) is acquiring Chimerix (NC, USA) for approximately $935M in cash to obtain dordaviprone, a first-in-class therapy under FDA Priority Review for treating H3 K27M-mutant diffuse glioma—a rare, high-grade brain tumor affecting children and young adults with no current approved therapies. - Voyager Acquisition Corp (TX, USA) is acquiring VERAXA Biotech GmbH (Heidelberg, Germany) to create a Nasdaq-listed biopharmaceutical company focused on next-generation cancer therapies. The transaction values VERAXA at approximately $250M.
- PCI Pharma Services (PA, USA) to acquire Ajinomoto Althea (CA, USA) to expand its North American manufacturing capabilities and enhance its biologics development with expertise in sterile fill-finish and high-potent manufacturing, including antibody-drug conjugates (ADCs).
Partnerships
- FUJIFILM Diosynth Biotechnologies (NC, USA) and Regeneron Pharmaceuticals (NY, USA) announced a 10-year, $3B manufacturing supply agreement, with FUJIFILM providing U.S.-based production of Regeneron’s biologic medicines at its new Holly Springs facility starting in 2025.
- Repertoire Immune Medicines (MA, USA) and Genentech (CA, USA) announced a ~$765M collaboration to develop T cell-targeted immune medicines for autoimmune diseases.
- Boehringer Ingelheim (Ingelheim, Germany) and Tessellate Bio (Naarden, Netherlands) announced a ~$571M research collaboration and global license agreement to develop oral precision treatments targeting ALT-positive cancers.
- Tempus AI (IL, USA) announced a multi-year, strategic collaboration with AstraZeneca (Cambridge, United Kingdom) and Pathos AI (IL, USA) to build a multimodal oncology foundation model using Tempus’ oncology data, with $200M in data licensing and model development fees to Tempus.
- Mosaic Therapeutics (Cambridge, United Kingdom) in-licensed two clinical-stage oncology programs from Astex Pharmaceuticals (Cambridge, United Kingdom) to develop proprietary combination therapies for cancer patients with limited treatment options
- Inocras (CA, USA) and the Center for Data Driven Discovery in Biomedicine at Children’s Hospital of Philadelphia (PA, USA) announced a collaborative research agreement to perform whole genome sequencing and bioinformatic analysis on sinonasal cancer samples from the CORSICA Project, funded by the Natalie A. Cole-Reagins Family Foundation.
- DAAN Biotherapeutics (Seoul, South Korea) announced an exclusive licensing agreement with GC Cell (Seoul, South Korea) granting rights to its tumor antigen-specific antibody for use in CAR-T and CAR-NK therapies targeting solid tumors.
- Ono Pharmaceutical (Osaka, Japan) and Jorna Therapeutics (MA, USA) announced a research collaboration to develop RNA editing-based drug candidates using Jorna’s generative AI platform.
- Biostate AI (TX, USA) and Weill Cornell Medicine (NY, USA) announced a strategic collaboration to develop AI models using RNA sequencing for personalized prognosis and therapy selection in acute myeloid leukemia, starting with a pilot involving 1,000 retrospective patient samples.
- Gene Solutions (Ho Chi Minh, Vietnam) and Element Biosciences (CA, USA) announced a strategic collaboration to integrate Element’s AVITI24 multiomics platform with Gene Solutions’ genetic testing technologies for advancing non-invasive prenatal testing and precision oncology across Asia and beyond.
- EditCo Bio (CA, USA) and Promega (WI, USA) announced a licensing agreement to integrate Promega’s HiBiT, HaloTag®, and NanoLuc® technologies into EditCo’s CRISPR knock-in services for enhanced protein analysis.
- SimonMed Imaging (AZ, USA) and Lunit (Seoul, South Korea) announced a partnership to integrate Lunit INSIGHT DBT™ and Volpara Analytics™ into SimonMed’s breast cancer detection service.
- Debiopharm (Switzerland) and Oncodesign Services (Dijon, France) announced a license agreement for the use of AbYlink™ technology in preclinical activities to prepare antibody-chelator conjugates for molecular radiotherapy and radioimmunotherapy in cancer.
- CN Bio (Cambridge, United Kingdom) and Pharmaron (Beijing, China) announced a strategic partnership to validate CN Bio’s PhysioMimix® technology in disease modeling, toxicity testing, and ADME studies, and co-develop new applications for drug discovery and development.
- AbTherx (CA, USA) and Rondo Therapeutics (CA, USA) announced a technology license agreement leveraging AbTherx’s Atlas Binary Fixed Light Chain Transgenic Mouse technology to accelerate antibody discovery, with AbTherx receiving research payments, milestone payments, and royalties on net sales.
- Silexion Therapeutics (Israel) and Catalent (NJ, USA) announced a strategic collaboration, with Catalent conducting formulation development and clinical manufacturing of Silexion’s siRNA candidate, SIL204, at its Limoges, France facility to optimize delivery for KRAS-driven cancers.
- Empire Genomics (NY, USA) and BioDot, Inc (CA, USA) announced a strategic partnership to launch the BDot Probe Line, a new series of hematology-focused FISH probe panels and controls, optimized for use with BioDot’s CellWriter™ S platform, designed to streamline clinical cytogenetics workflows and accelerate time-to-results.
- 1Cell.Ai (CA, USA) and BioSkryb (NC, USA) announced a collaboration to co-develop next-gen single cell multi-omic solutions, combining BioSkryb’s chemistry with 1Cell.Ai’s OncoIncytes platform to enable precise detection of rare mutations for cancer research and therapy development.
- Guardant Health (CA, USA) and Pfizer (NY, USA) announced a multi-year global collaboration to utilize Guardant’s liquid biopsy portfolio in Pfizer’s oncology research and clinical studies, focusing on ctDNA for monitoring therapy response.
- Formosa Pharmaceuticals, Inc. (Taipei, Taiwan) and Laboratorios Saval S.A. (Santiago, Chile) announced an exclusive licensing agreement for the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), in Central and South America, with upfront payments and milestones included in the agreement.
Registered Direct Offering (RDO)
- Aptevo Therapeutics (WA, USA) raised $2M through a registered direct offering to support the continued clinical development of its immune-oncology pipeline, working capital, and other general corporate purposes.
Closures and Layoffs
- Tempest Therapeutics (CA, USA) is cutting 80% of its workforce, making up 21 of its 26 full-time employees effective April 30 as part of strategic alternatives to advance clinical-stage programs and maximize stockholder value.
- Caribou Biosciences (CA, USA) is laying off approximately 32% of its workforce and discontinuing several programs to focus on its two lead oncology candidates.
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