True North Therapeutics, Inc.
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Star will employ a hub-and-spoke model to launch portfolio companies focused on specific biological areas. The first company, Electra, will emphasize unmet medical needs and therapies that can address multiple diseases.
Private Company Watch: Neuron23, Neurogene and Locanabio each raised $100m or more, highlighting increased investor interest in novel approaches to neurological diseases. Also, CRO dMed raised $100m and MinervaX brought in $57m for its vaccine to protect newborns.
The French major's hopes for launching its rare blood disorder drug sutimlimab soon have been scuppered by a complete response letter from the FDA after inspecting a third-party facility responsible for making the first-in-class therapy.
Senior executives are to depart Gilead Sciences, Bristol-Myers Squibb and Amgen, while C-suite and board hires have been reported at Sirnaomics, Pandion, Purdue Pharma, Cardurion and OncoSec.
- Large Molecule