BioPharma Updates, August 18th, 2025.
SciLeads’ BioPharma is updated daily, giving our clients the most current insights on biopharma organizations, including Funding, Initial Public Offerings, 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
- SetPoint Medical (CA, USA) raised $115M in Series D funding and $25M in a Series C tranche to commercialise its neuroimmune modulation therapy for rheumatoid arthritis and advance its pipeline for other autoimmune diseases.
- Aquestive Therapeutics (NJ, USA) received $75M from RTW Investments, contingent on FDA approval of Anaphylm™, to support its U.S. commercial launch for the emergency treatment of allergic reactions, including anaphylaxis.
- Reprieve Cardiovascular (MA, USA) raised $61M in Series B financing to advance its FASTR II pivotal clinical trial for acute decompensated heart failure and support commercial readiness activities.
- Gameto (NY, USA) raised $44M in Series C funding to complete a Phase 3 trial of its stem cell-derived Fertilo therapy for infertility and advance its pipeline targeting menopause and other reproductive health conditions.
- Jocasta Neuroscience (AZ, USA) raised $35M a Series A funding to advance its proprietary α-Klotho formulation, JN-0413, through Phase 1 trials for treating cognitive decline in neurodegenerative diseases.
- Conformal Medical (NH, USA) raised $32M in Series D funding to support enrollment in its CONFORM Pivotal Trial and advance pre-commercialization of its CLAAS AcuFORM left atrial appendage occlusion system for stroke prevention in atrial fibrillation patients.
- Tahoe Therapeutics (CA, USA) raised $30M to build a large-scale dataset for training virtual cell models, enabling the mapping of one million drug-patient interactions to accelerate precision medicine development in cancer and other diseases.
- NK CellTech (Shanghai, China) raised $14M in a Series A+ round to advance clinical trials of its lead NK cell therapies and expand its pipeline into areas such as autoimmune and neurodegenerative diseases.
- Rivanna (VA, USA) received an $800K Virginia Catalyst Program grant to complete and clinically validate advanced features for its Accuro 3S diagnostic ultrasound system, aimed at improving real-time needle guidance during neuraxial procedures.
- Endure Biotherapeutics (CA, USA) received an undisclosed amount in a Phase I SBIR grant from the National Cancer Institute to advance an engineered native bacteria therapy for treating familial adenomatous polyposis.
- CILA Therapeutics (MA, USA) received a grant from the National Center for Advancing Translational Sciences to advance its CIL-Key platform, which enhances delivery of inhaled RNA-loaded lipid nanoparticles into lung epithelial cells for treating pulmonary diseases.
Emerging
- Inkvivo Technologies (Lausanne, Switzerland) raised $1.2M to advance clinical development of its lead anemia therapy and pursue new pharmaceutical and nutraceutical partnerships using its polymer-based drug formulation platform.
Post IPO Equity
- Aquestive Therapeutics (NJ, USA) raised $85M through an underwritten public offering of common stock to support the potential launch and commercialization of Anaphylm™, and for working capital, capital expenditures, and general corporate purposes.
- X4 Pharmaceuticals (MA, USA) raised $60M through a PIPE financing to advance development and commercialization of mavorixafor for chronic neutropenia and WHIM syndrome.
- Equillium, Inc. (CA, USA) raised ~$50M through a private placement to advance its AhR modulator EQ504 into a Phase 1 study for ulcerative colitis and pouchitis.
- BioSig Technologies, Inc. (CT, USA) announced a $15M underwritten public offering of common stock to support working capital and for general corporate purposes.
- Vivani Medical (CA, USA) raised $10M through a private placement to accelerate development of its semaglutide implant NPM-139 toward clinical trials in 2026 and extend its financial runway into the second half of 2026.
- Propanc Biopharma, Inc. (Australia) raised $4M through an underwritten public offering of common stock to support working capital and general business purposes.
- Entero Therapeutics Inc. (FL, USA) raised $3M through a private placement of pre-funded and common warrants to support general corporate purposes and working capital.
- bioAffinity Technologies (TX, USA) raised $1.2M through a private placement of Series B convertible preferred stock and warrants, plus a warrant exercise agreement, to support working capital and general corporate purposes.
- Compass Therapeutics Inc. (MA, USA) announced an underwritten public offering of common stock and pre-funded warrants to fund commercial readiness preparations, advance research and clinical development, and for general corporate purposes.
Post IPO debt
- Ligand Pharmaceuticals (CA, USA) raised $400M through a convertible senior notes offering to support general corporate purposes, including potential acquisitions, and fund convertible note hedge transactions.
- Amalgam Rx (DE, USA) raised $20M through a credit investment from Catalio Capital Management to scale its Medical-Grade AI platform, accelerate market expansion, and refinance existing debt.
Mergers and Acquisitions
- Intas Pharmaceuticals (Ahmedabad, India) to acquire Prothya Biosolutions Belgium B.V. (Brussels, Belgium) for an undisclosed amount to expand presence in the plasma-derived medicinal products sector.
- BridgeBio Oncology Therapeutics (CA, USA) to debut as a publicly traded company for completion of a business combination with Helix Acquisition Corp. II (MA, USA) for an undisclosed amount to accelerate development of its RAS-targeted oncology pipeline.
- Vyome Therapeutics (MA, USA) to acquire ReShape Lifesciences (CA, USA), a combined company, renamed Vyome Holdings, Inc., will begin trading under the ticker “HIND” commencing August 15, 2025.
Partnerships
- Bayer (Germany) and Kumquat Biosciences Inc. (CA, USA) announced a ~$1.3B exclusive global license and collaboration to develop and commercialize Kumquat’s KRAS G12D inhibitor.
- Eli Lilly and Company (IN, USA) and Superluminal Medicines (MA, USA) announced a $1.3B partnership to develop small molecule therapies for cardiometabolic diseases and obesity, leveraging Superluminal’s AI-driven GPCR drug discovery platform.
- Fosun Pharma (Shanghai, China) and Expedition Therapeutics (CA, USA) announced a ~$645M licensing agreement granting Expedition global rights (excluding Greater China) to develop and commercialize XH-S004, an orally administered DPP-1 inhibitor in Phase II trials for non-cystic fibrosis bronchiectasis and Phase Ib trials for COPD.
- Basilea Pharmaceutica (Switzerland) and Venatorx Pharmaceuticals (PA, USA) announced a ~$325M exclusive licensing agreement granting Basilea global rights to ceftibuten-ledaborbactam etzadroxil, a Phase 3-ready oral BL/BLI combination for complicated urinary tract infections.
- CIT Therapeutics (CA, USA) and the Institute for Follicular Lymphoma Innovation (IFLI) (CA, USA) announced a $2.5M strategic partnership to support a Phase 1/1b trial of SB-4826, a first-in-class SUMO E1 inhibitor for Non-Hodgkin Lymphoma, including relapsed or refractory follicular lymphoma.
- Kexing Biopharm Co., Ltd. (China) and IQVIA (NC, USA) announced a strategic partnership to accelerate the global clinical development, regulatory approval, and commercialization of Kexing’s innovative drugs and biosimilars, with an initial focus on Europe and other regulated international markets.
- Apriori Bio (MA, USA) and the Francis Crick Institute (London, United Kingdom) announced a research collaboration to use data from the Crick’s Legacy Study to validate Apriori’s Octavia™ AI platform for predicting viral evolution and designing more effective, variant-resilient vaccines.
- Techcyte (UT, USA) and Modella AI (MA, USA) announced a partnership to integrate Modella’s PathChat™ AI co-pilot for pathologists into the Techcyte Fusion™ digital pathology platform for research use, aiming to advance AI-assisted workflows and innovation in pathology.
- Santhera Pharmaceuticals (Switzerland) and GEN (Ankara, Turkey) announced an exclusive distribution and promotion agreement for AGAMREE® (vamorolone) in Türkiye for Duchenne muscular dystrophy, with sales expected to start in 2026.
- Apertura Gene Therapy (NY, USA) announced licensing agreements with Galibra Neuroscience, Inc. (MA, USA) and Emugen Therapeutics (MA, USA), plus an option deal with an undisclosed biotech, to use its intravenously dosed TfR1 CapX capsid for CNS-targeted gene therapies, enabling broad brain distribution with high neuron and astrocyte transduction.
- Pilatus Biosciences (Switzerland) and Roche (Switzerland) announced a clinical trial collaboration in which Roche will supply atezolizumab (Tecentriq®) for Pilatus’ first-in-human Phase 1 trial of PLT012 in hepatocellular carcinoma, with plans to explore additional tumor types.
- BioCardia (CA, USA) and CART-Tech B.V. (Netherlands) announced an exclusive development and commercialization agreement for Heart3D™ Fusion Imaging, a platform integrating 3D heart models with real-time 2D X-ray to enhance cardiac biotherapeutic delivery and biopsy procedures.
Initial Public Offering (IPO)
- Nasus Pharma (Tel Aviv, Israel) announced a $10M IPO on the NYSE American to advance its intranasal epinephrine program through manufacturing scale-up, additional Phase 2 studies, and for general corporate purposes.
Closures and Layoffs
- NextRNA Therapeutics (MA, USA) have announced they will close after missing a Bayer milestone.
- Absci (WA, USA) to lay off an undisclosed number of employees after transitioning into a clinical company to focus on high-priority programs.
- Merck (NJ, USA) to lay off 58 employees for a $3B cost-cutting plan affecting about 6,000 workers globally to support upcoming product launches.
- Oric Pharmaceuticals (CA, USA) to lay off 20% of employees by eliminating all discovery research roles to extend the cash runway into H2 2028.
- Fate Therapeutics (CA, USA) to lay off 12% of employees for cost-cutting measures to extend funding through the end of 2027 and prioritize CAR T-cell programs over preclinical CAR NK candidates.
- Abata Therapeutics (MA, USA) is reportedly to close after challenges with their funding.
- Vedanta Biosciences (MA, USA) to lay off 20% of employees following failure of VE202 Phase 2 trial
- Generation Bio (MA, USA) to lay off 90 employees for lack of time and cash to develop autoimmune technology.
- Evotec (Hamburg, Germany) to lay off 200 employees for a reorganization plan to accelerate transformation and achieve cost efficiencies.
- Vedanta Biosciences (MA, USA) to lay off 20 % of staff for reorientation following failure of VE202 Phase 2 ulcerative colitis trial.
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