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Latest From Stromedix, Inc.
IPF Failure Sets Back Biogen’s Diversification Efforts
The company has discontinued a Phase II trial for BG00011, which was acquired in its 2012 Stromedix purchase, due to safety issues.
Arrakis Pivots From Platform To Pipeline With $75m For RNA-Targeting Small Molecules
CEO Michael Gilman, who now helms the company full time, said Arrakis will use its Series B venture capital funding to build a pipeline of drug candidates, primarily in cancer, with the goal of taking its first medicines into the clinic in the next two to three years.
Venture Funding Deals: LAM Nabs $58m Series C One Year After $40m Round
Also, Advicenne doubles its fundraising to date; Michael Gilman-helmed Arrakis raises a $38m Series A; Breath spins out with $46m; and Spero gets $51.7m for novel antibacterials.
Finance Watch: Surrozen Raises $33m In $483m February Flurry; Also, Are Reverse Mergers This Year's IPOs?
Surrozen raised $33m to fund drug development programs targeting Wnt ligands for various indications during a February VC financing flurry that occurred despite a drop in IPOs. Taking an alternative route to going public, some biopharma companies have completed reverse mergers in recent weeks and months.
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