BioPharma Updates, September 29th, 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
- Basilea Pharmaceutica (Basel, Switzerland) received up to $159M in BARDA funding, including $6M committed upfront, to advance its oral antibiotic ceftibuten-ledaborbactam into Phase 3 trials for complicated urinary tract infections.
- Sparrow Pharmaceuticals (OR, USA) raised $95M in Series B funding to advance Phase 2b development of clofutriben, its HSD-1 inhibitor targeting cortisol-driven metabolic dysfunction in type 2 diabetes.
- Avenzo Therapeutics (CA, USA) raised $60M in Series B funding to advance its pipeline of oncology drug candidates, including small molecule inhibitors and antibody-drug conjugates.
- Until Labs (CA, USA) raised $58M in Series A funding to develop organ-scale cryopreservation technology, enabling extended storage and rewarming of donor organs for transplantation.
- Ensoma Bio (MA, USA) raised $53M in funding to support its Phase 1/2 trial of EN-374 for X-linked chronic granulomatous disease and advance its in vivo hematopoietic stem cell engineering platform.
- Rapid Micro Biosystems (MA, USA) raised $45M in growth funding to expand commercialisation of its Growth Direct platform, automating microbial quality control in biopharma manufacturing.
- Leo Cancer Care (WI, USA) raised $40M in funding to advance its upright radiotherapy technologies and support global commercial expansion.
- Axon Therapies (NY, USA) raised $32M in Series A funding to advance clinical trials of its minimally invasive splanchnic ablation therapy for patients with heart failure.
- SEED Therapeutics (NY, USA) raised $30M in Series A-3 funding to advance ST-01156, its lead molecular glue degrader targeting RBM39, into first-in-human clinical trials.
- Manas AI (NY, USA) raised $26M in seed funding to advance its AI-driven drug discovery platform and therapeutic programs, and appointed Ujjwal Singh as co-founder and CTO.
- VedaBio (CA, USA) raised $25M in Series A funding to advance its amplification-free CRISPR-based molecular diagnostics platform.
- Crossject (Dijon, France) received an $11.3M BARDA grant to advance regulatory and manufacturing activities for ZEPIZURE (ZENEO Midazolam) toward FDA authorisation.
- FYR Bio (MT, USA) raised $8M in funding to expand its oncology programs and advance new initiatives in neuro-oncology and neurodegeneration
- Neurocentrx (Edinburgh, United Kingdom) raised $5M in seed funding from the Wellcome Trust to support a Phase 2 trial of its oral abuse-deterrent ketamine therapy for treatment-resistant bipolar depression.
- Moneta Health (NV, USA) raised $4.5M in funding to expand its AI-powered cognitive rehabilitation platform and partnered with Benefis Health System to increase access to dementia and cognitive care in underserved regions.
- RedenLab (Melbourne, Australia) received $2.5M to develop speech- and language-based tools for early detection and monitoring of neurodegenerative disease.
- Denteric (Melbourne, Australia) received $2.5M to run a clinical trial of its vaccine candidate GPV381, targeting P. gingivalis infection linked to Alzheimer’s progression.
- Sydney Neuroimaging Analysis Centre (SNAC) (Sydney, Australia) received $2.4M to validate MRI-based analysis tools for Alzheimer’s and dementia monitoring.
- Ceretas (Melbourne, Australia) received $2.4M to optimize a therapeutic ultrasound device aimed at improving brain connectivity and slowing decline in Alzheimer’s.
- Skin2Neuron (Melbourne, Australia) received $2.4M to progress its cell therapy for restoring lost neurons and synapses in Alzheimer’s patients.
- Synaptra Bio (Melbourne, Australia) received $2.3M to advance preclinical development of a small molecule targeting tau-dependent processes in Alzheimer’s.
- MAIA Biotechnology (IL, USA) received a $2.3M NIH grant to expand its Phase 2 THIO-101 trial of ateganosine in third-line advanced non-small cell lung cancer, supporting U.S. patient enrollment through 2027.
- Küleon Bioscience (WA, USA) received a $2M National Institute on Alcohol Abuse and Alcoholism grant to advance KB-128, a non-hallucinogenic 5-HT2C agonist, toward clinical development for alcohol use disorder.
- Perx Health (Sydney, Australia) received $1.3M to pilot a dementia-focused digital care management app to improve adherence and outcomes.
- Trethera (CA, USA) received a $1.8M NIH grant to advance preclinical development of TRE-515, a first-in-class oral dCK inhibitor for Crohn’s disease.
- Plus Therapeutics (TX, USA) received a $1.9M Cancer Prevention and Research Institute of Texas grant to support clinical development of its targeted radiotherapeutic REYOBIQ for leptomeningeal cancer.
- Kinea Bio (WA, USA) received a $1.1M investment from the Jain Foundation to advance preclinical studies of its dual-AAV gene therapy KNA-155 for dysferlinopathy and licensed Solid Biosciences’ myotropic AAV-SLB101 capsid to enable muscle-targeted delivery.
- Jaguar Health (CA, USA) received a $250K FDA grant to support a confirmatory trial of Canalevia for full approval in treating chemotherapy-induced diarrhea in dogs.
- Mevaldi (Amsterdam, Netherlands) raised an undisclosed amount of funding to scale its bio-based chemistry platform, advancing production of renewable building blocks for polymers and polyurethanes.
- BMI OrganBank (NC, USA) received an investment from the National Kidney Foundation’s Innovation Fund to advance its room temperature machine perfusion platform into clinical studies for improving kidney transplant outcomes.
- Rise Therapeutics (MD, USA) received a grant from the National Institute of Dental and Craniofacial Research to advance its oral immune modulator R-2487 into clinical testing for Sjögren’s disease.
Emerging
- Ollin Biosciences (TX, USA) launched with $100M in funding to advance its ophthalmology pipeline, including OLN324, a VEGF/Ang2 bispecific antibody in wet AMD and DME, and OLN102, a TSHR/IGF-1R bispecific antibody for thyroid eye disease.
- Synthesize Bio (WA, USA) launched with $10M in seed funding to develop generative genomics foundation models that predict gene expression outcomes and support faster, more confident drug development.
- DaltonTx (Oxford, United Kingdom) emerged from stealth with $5.2M in seed funding to develop its adaptive AI-driven platform designed to improve efficiency and reduce costs in drug discovery.
- Terra Oleo (Singapore) emerged from stealth with $3.1M in funding and support from the Breakthrough Energy Fellows program to develop sustainable microbial-derived alternatives to palm oil and cocoa butter for use in personal care, pharmaceuticals, and food.
- Kalexo Bio (Shanghai, China & CA, USA) was launched by Aditum Bio and Mabwell Bioscience with funding from Aditum to advance 2MW7141, a dual-target siRNA therapy for dyslipidemia and prevention of high-risk cardiovascular events.
Post IPO Equity
- uniQure (Amsterdam, Netherlands) announced the pricing of a $300M underwritten public offering of ordinary shares and pre-funded warrants to support advancement of its gene therapy pipeline and general corporate purposes.
- MBX Biosciences, Inc. (IN, USA) announced the pricing of a $199.9M upsized public offering of 11.1M shares of common stock to support advancement of its precision peptide therapies for endocrine and metabolic disorders.
- Immuneering Corporation (MA, USA) announced the pricing of a $175M underwritten public offering of Class A common stock and a $25M private placement with Sanofi to advance preclinical and clinical development programs and for general corporate purposes.
- PepGen (MA, USA) announced the pricing of a $100M underwritten public offering of common stock to fund its FREEDOM-DM1 clinical trials, broader R&D efforts, and general corporate purposes.
- Monopar Therapeutics Inc. (IL, USA) announced the pricing of a $100M underwritten registered offering of common stock and pre-funded warrants to support general corporate purposes, including R&D, clinical trial expenditures, manufacturing, and working capital.
- Eupraxia Pharmaceuticals (Victoria, Canada) announced the closing of an $80.5M public offering to advance its Diffusphere™ pipeline, including development of EP-104GI for eosinophilic esophagitis and other clinical and regulatory milestones.
Post IPO Debt
- uniQure (Amsterdam, Netherlands) announced a $175M non-dilutive senior secured term loan facility with Hercules Capital to enhance financial flexibility and support the potential 2026 U.S. commercial launch of AMT-130 for Huntington’s disease.
- KalVista Pharmaceuticals (MA, USA) announced the pricing of a $125M private placement of 3.250% Convertible Senior Notes due 2031 to support working capital, commercialization of EKTERLY, and general corporate purposes.
- Santhera Pharmaceuticals (Pratteln, Switzerland) announced $22M in debt financing to accelerate the global rollout of AGAMREE® (vamorolone) for Duchenne muscular dystrophy, increase inventory, and support launch activities in the US, Europe, and China.
- Aptose Biosciences (CA, USA) secured a $11.9M loan facility agreement with Hanmi Pharmaceutical to fund clinical operations for tuspetinib (TUS) in AML.
- Arecor Therapeutics (Cambridge, United Kingdom) announced a royalty-based debt financing agreement with Ligand Pharmaceuticals (USA) for up to $11M, providing non-dilutive capital to extend its cash runway to 1H 2027 and fund Phase 2 trial preparations for AT278.
- SciTech Development (MI, USA) announced the closing of an oversubscribed $5.5M Convertible Note Round #3 to advance clinical development of its lead oncology candidate ST-001 nanoFenretinide™ for T-cell Non-Hodgkin Lymphoma and small cell lung cancer.
- Algernon Pharmaceuticals, Inc. (Vancouver, Canada) announced a $4M non-dilutive debt financing with Catalyst MedTech to open four brain-specific PET scan clinics in the U.S. for early-stage Alzheimer’s detection.
Mergers and Acquisitions
- Pfizer (NY, USA) to acquire Metsera (MA, USA) for $1.5B to expand its next-generation obesity pipeline. The deal includes upfront payment and potential milestone payments tied to clinical and regulatory achievements. Pfizer aims to strengthen its position in the metabolic disease market.
- Celltrion (Incheon, South Korea) to acquire Eli Lilly’s drug substance plant (NJ, USA) for $330M to mitigate tariffs and strengthen its U.S. manufacturing presence. The acquisition supports Celltrion’s biosimilar expansion strategy.
- Lotus Pharmaceutical (Taipei, Taiwan) to acquire Alvogen (NJ, USA) to create a leading international specialized generics platform. The transaction will expand Lotus’ global reach and strengthen its specialty and complex generics portfolio.
- Kemin Industries (IA, USA) to acquire CJ Youtell Biotech (Shenyang, China) to expand its global amino acid portfolio. The acquisition strengthens Kemin’s presence in the animal nutrition and health market.
- Glooko (CA, USA) to acquire Monarch Medical Technologies (NC, USA) to expand its connected diabetes care offerings. The acquisition brings Monarch’s EndoTool glucose management system into Glooko’s portfolio, enhancing inpatient and outpatient diabetes solutions.
- Gossamer Bio (CA, USA) to acquire Respira Therapeutics (NM, USA) from Samsara BioCapital for respiratory pipeline expansion.
- Praxis Packaging Solutions (MI, USA) to acquire Advanced Concept Innovations (SC, USA) to expand contract packaging capabilities.
Partnerships
- Starpharma (Melbourne, Australia) and Genentech (CA, USA) announced a ~$569M collaboration and license agreement to develop potential oncology therapies using Starpharma’s proprietary DEP® drug delivery technology.
- Angelini Pharma (Rome, Italy) and Sovargen (South Korea) announced a ~$550M exclusive global option agreement for SVG105, a preclinical antisense oligonucleotide for brain health diseases.
- Palatin Technologies (NJ, USA) received a $6.5M milestone payment from Boehringer Ingelheim (Germany) under their partnership to develop melanocortin receptor–targeted therapies for retinal diseases, including diabetic retinopathy and diabetic macular edema.
- Proteomedix AG (Schlieren, Switzerland) and Immunovia AB (Lund, Sweden) announced a licensing agreement for key intellectual property and antibody master cells supporting production of the PancreaSure pancreatic cancer test, with Proteomedix to receive $700K in payments plus 3% royalties on net sales through 2032.
- JCR Pharmaceuticals (Ashiya, Japan) received a milestone payment from Alexion Pharmaceuticals (MA, USA) under their partnership to apply J-Brain Cargo® technology to develop a therapeutic protein candidate for a neurodegenerative disease.
- Numab Therapeutics AG (Horgen, Switzerland) received a milestone payment from Boehringer Ingelheim (Germany) after advancing a novel tumor antigen–targeting T cell engager from their collaboration into preclinical development for lung and gastrointestinal cancers.
- SOPHiA GENETICS (Rolle, Switzerland) and AstraZeneca (United Kingdom) expanded their collaboration to co-develop an AI-powered next-generation sequencing (NGS) solution to detect mutations in the PIK3CA/AKT1/PTEN pathway for breast and prostate cancer, with commercial rollout expected in 2026.
- Revvity (MA, USA) and Profluent (CA, USA) announced a strategic collaboration to integrate AI-engineered enzymes with the Pin-point™ base editing platform to expand precision gene editing applications and accelerate therapeutic development.
- Immutep Limited (Sydney, Australia) and The George Washington University Cancer Center (DC, USA) announced the initiation of a Phase II investigator-initiated trial evaluating neoadjuvant eftilagimod alfa (efti) in early-stage HR+/HER2-negative breast cancer.
- Prellis Biologics (CA, USA) and Eli Lilly and Company (IN, USA) announced a multi-target drug discovery collaboration to leverage Prellis’ organoid and AI-enabled EXIS™ and AntiGen AI platforms for the rapid discovery and optimization of fully human antibodies.
- TegMine Therapeutics (CA, USA) and Boehringer Ingelheim (Germany) announced a strategic R&D collaboration to develop safer, more specific ADCs using TegMine’s 2-Factor Antibody System
- NorthStar Medical Radioisotopes, LLC (WI, USA) and the University of Wisconsin School of Medicine and Public Health (WI, USA) announced a multi-year strategic partnership to advance radiopharmaceutical R&D, clinical and translational research, and workforce development in nuclear medicine and particle therapy.
- BioFlyte, Inc. (NM, USA) and Los Alamos National Laboratory (NM, USA) announced a collaboration under New Mexico’s TRGR initiative to adapt LANL’s QUIC software for indoor environments, accelerating aerosol modeling and sensor placement for chemical and biological threat detection.
- Drug Farm (Shanghai, China) and Cincinnati Children’s Hospital Medical Center (OH, USA) announced a Material Transfer Agreement to study ALPK1 inhibitor DF-003 in clonal hematopoiesis of indeterminate potential (CHIP).
- AbTherx (CA, USA) and Dragonfly Therapeutics, Inc. (MA, USA) announced an expansion of their antibody discovery partnership, granting Dragonfly access to AbTherx’s Atlas Mouse platform with AbTherx eligible for research, milestone, and commercial payments.
- Cognision (MA, USA) and SOMNOmedics AG (Germany) announced a strategic partnership to provide next-generation polysomnography solutions for pharmaceutical-sponsored clinical trials, enabling robust sleep biomarker integration in CNS drug development.
- Lunit (Seoul, South Korea) and CellCarta (Montreal, Canada) announced a strategic partnership to integrate Lunit’s AI-powered pathology solutions into CellCarta’s global clinical trial services, enhancing biomarker development and precision oncology drug development.
- ITM Isotope Technologies Munich SE (Germany) and TerThera B.V. (Netherlands) announced a supply agreement for GMP-grade Terbium-161 to support ITM’s development of terbium-based radiopharmaceutical therapies for cancer.
- Corstasis Therapeutics (NV, USA) and US Heart and Vascular (TN, USA) announced a strategic collaboration to integrate ENBUMYST™ (bumetanide nasal spray) into outpatient heart failure care pathways to reduce readmissions, improve fluid management, and enhance patient outcomes.
- SFI Health Solutions (Switzerland) and Curasense (Belgium) announced an exclusive licensing agreement granting Curasense rights to distribute, market, and sell Equazen® brain health supplements in the Netherlands and Belgium.
- Arecor Therapeutics (Cambridge, United Kingdom) and Sequel Med Tech (NH, USA) announced a co-development partnership to advance AT278 in next-generation insulin pump systems, with both companies committing funding to prepare for a pivotal Phase 2 trial.
Initial Public Offering (IPO)
- GenFleet Therapeutics (Shanghai, China) announced pricing of a $233M IPO on the Hong Kong Stock Exchange to advance its oncology and immunology pipeline and late-stage clinical programs.
Registered Direct Offering (RDO)
- Envoy Medical (MN, USA) announced the closing of a $2.5M registered direct offering priced at-the-market under Nasdaq rules to support working capital and general corporate purposes.
Closures and Layoffs
- Rome Therapeutics (MA, USA) to lay off employees as it nears shutdown amid a strategic review and lack of funding.
- Seres Therapeutics (MA, USA) to lay off 25% of employees to fund a phase 2 study of its biotherapeutic.
- Heidelberg Pharma (Ladenburg, Germany) to lay off 75 employees after a missed milestone payment created financial pressure.
- Rising Pharmaceuticals (NJ, USA) to lay off 86 employees as it shuts down two facilities in Decatur, IL, USA due to site closures.
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