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Latest From HitGen Inc.
Private Company Edition: Acelyrin will use its latest funding for Phase III development of izokibep in inflammatory diseases. Also, ArsenalBio raised $220m to take its programmable cell therapies into the clinic and RayzeBio’s $160m series D round will fund clinical trials for its radiopharmaceuticals.
Weak financing sentiment for Korean bioventures continues this year with sharply lower fund inflows from venture capital and other investors, as well as delayed or withdrawn IPOs, in Q2. Amyloid Solution, Rznomics, and UPPthera were among the top fundraisers.
Cidara gets $30m up front for US rights to the weekly echinocandin candidate for candidemia and invasive candidiasis. Takeda walks away from oncolytic virus candidate licensed from Turnstone.
Positive Phase III topline results follow the US FDA’s acceptance of the drug in cholangiocarcinoma and encouraging data in low-grade glioma at ASCO 2021.
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