Pfizer-Backed Biotech Raises Over $200M to Tackle 'Undruggable' Targets; Chinese Cell Therapy Innovator Secures $560M in Series B Funding

Sep 11, 2023 17:17 CST Updated 17:17

Apollo Therapeutics

Global Pharmaceutical Manufacturer

Nimbus Therapeutics

Small Molecule Drug Developer

▎Edited by the WuXi AppTec content team

According to incomplete statistics from Innovation Radar, last week (September 4 to September 10), there were 24 disclosed financing events in the global healthcare sector. In terms of amount, there were 10 financings of 100 million yuan or more. In terms of financing rounds, excluding unknown rounds, there were 15 early-stage financings (before Series B) and 5 mid-to-late stage financings (Series B and later). Notably, 11 companies in the biopharmaceutical field received financing, eight of which are involved in the anti-cancer field, with drug types including immunotherapy, targeted radiopharmaceuticals, cell therapy, etc.

#01

Promoting the Transformation of Basic Medical Research Achievements, Newcomer Completes Over $200 Million in Series C Financing

Keywords：Immunology, Cell Signaling

Latest Financing:$226.5 Million CWheel

This Round's Investment Institutions：M&G Investments、Patient Square Capital、Rock Springs Capital

On September 6, Apollo Therapeutics announced the completion of a $226.5 million Series C financing. The proceeds will be used to: (1) advance the clinical development pipeline projects and further fund Apollo's drug discovery and development activities; (2) license or acquire other clinical-stage projects.Apollo Therapeutics is a capital portfolio-based biopharmaceutical company dedicated to translating fundamental medical research findings into drugs. Apollo Therapeutics possesses a scalable R&D platform for the discovery and development of new drugs, which benefits from the company's close ties with five of the world’s leading universities and research institutions. Backed by professional healthcare investors, Apollo Therapeutics operates in Cambridge, UK, Boston, USA, and Chicago.The company's pipeline currently includes more than 20 projects,Research areas cover cell signaling, cell stress response, cell metabolism, and immunology.。

#02

Accelerating the Development of Next-Generation Small Molecule Drugs, Newcomer Completes Over $200 Million in Financing

Keywords：Small Molecule Targeted Drugs

Latest Financing:$210 Million UnknownWheel

This Round of Investment Institutions: Bain Capital Life Sciences, BVF Partners, Gates Frontier, Lightstone Ventures, Pfizer Ventures, etc.

On September 6, Nimbus Therapeutics announced the completion of a $210 million private financing round to advance the development of its next-generation small molecule drugs. The proceeds from this financing will be used to advance multiple preclinical projects into early clinical development stages, including projects targeting the DNA helicase WRN for Werner's syndrome and an undisclosed autoimmune disease target.Nimbus Therapeutics is a clinical-stage drug discovery company dedicated to developing novel small-molecule medicines against proven but difficult-to-drug targets across a range of human diseases. Nimbus combines computational approaches with a suite of machine learning-based predictive modeling methods, and its pipeline includesHPK1 (Hematopoietic Progenitor Kinase 1) inhibitors in clinical development for the treatment of cancer, along with a diversified portfolio of preclinical programs targeting cancer, autoimmune diseases, and metabolic disorders.。

#03

$175 Million Accelerates Next-Generation Cancer Therapy R&D, Newcomer Completes Series B Financing

Keywords: Targeted Radiopharmaceuticals

Latest Financing: 1.75Billion USD BWheel

This Round's Investment Institutions：Deep Track Capital、Forbion, Atlas Venture, Access Biotechnology, etc.

On September 7, Mariana Oncology announced the completion of a $175 million Series B financing round. The proceeds will be used to support the company in advancing the development of its next-generation radiopharmaceutical portfolio, including its lead candidate MC-339, while also aiding the company’s transition into a clinical-stage organization. Mariana Oncology is a fully integrated next-generation radiopharmaceutical research and development company, focused on pioneering a new class of peptide-based targeted radiopharmaceuticals. The company’s radiopharmaceuticals consist of conjugated molecules targeting selected biological sites, capable of delivering alpha or beta radionuclide payloads. Through the engineering design of molecular structures,These drugs can penetrate more effectively into the interior of solid tumors, achieving a higher radiation-active dose, thereby avoiding the common side effects associated with traditional chemotherapy and cytotoxicity-based treatment strategies.。

#04

Grail Biotech Completes $400 Million Series B Financing to Advance TIL Pipeline for Solid Tumors

Keywords：TIL Cell Therapy

Latest Financing: 400 Million YuanBRound

This round of investment institutions: CICC Capital, Qianhai Ark, Lian Dong Investment, Yuanhe Capital, Sherpa Ventures, etc.

On September 8, Grit Biotechnology announced the completion of a 400 million RMB Series B financing round. This round of funding will be used to support itsTumor-Infiltrating Lymphocyte (TIL) TherapyThe development of the pipeline, including the pivotal clinical trials of GT101 and the development of multiple next-generation gene-edited TIL pipelines, is committed to creating groundbreaking cell therapies for solid tumor patients worldwide.SandGravel Bio was founded in 2019 as an innovative pharmaceutical company focusing on tumor immunotherapy and cell therapy, with a research pipeline represented by TIL drugs. The company has developed a series of core platforms and, based on these platforms, created a range of next-generation gene-edited TIL drugs. Among them, GT101 Injection, a TIL drug independently developed by Gravel Bio, has been approved for clinical registration in China and is about to enter the pivotal Phase 2 clinical trial.

#05

Immunotech Biopharm Lists on HKEX

Keywords: Tumor Immunotherapy

Latest Financing:HK$235 Million IPO

According to a recent announcement by Immune-Onc Therapeutics, the company officially listed on the Hong Kong Stock Exchange on September 5. Public information shows that Immune-Onc Therapeutics, established in 2015, is a clinical-stage biotechnology company dedicated to developing innovative cancer immunotherapies. The company's chairman and chief executive officer is Dr. Wen-Zhi Tian. Since its establishment, Immune-Onc Therapeutics has completed multiple rounds of financing. Based on the team’s understanding of the biological mechanisms related to the interaction between CD47-SIRPα and its potential synergistic effects with other tumor targets or immune checkpoints, Immune-Onc Therapeutics has built aA differentiated product portfolio targeting CD47 with both good safety and efficacyCurrently, the company has developed a pipeline of 14 innovative drug candidates and has eight ongoing clinical projects, including next-generation CD47-targeting molecules and bispecific molecules based on CD47. IMM01, one of the core products of Yimeng Angke, is a SIRPα-Fc fusion protein with an IgG1-Fc region, being developed for monotherapy or combination therapy to treat various hematological malignancies and solid tumors.

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