F2G, Gilead Sciences, IDRx
F2G Raises $70M in Financing
F2G Ltd, a Manchester, UK-based clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat life-threatening rare fungal infections with a high unmet medical need, received $70m in financing.
The round was co-led by new investors Forbion and Sofinnova Partners with participation from existing investors, Novo Holdings, Morningside Ventures, Cowen Healthcare Investments and Advent Life Sciences. Nanna Lüneborg of Forbion and Joe Anderson of Sofinnova Partners will join the F2G Board of Directors.
The company intends to use the funds to advance late-stage development and commercialization in the US of olorofim, a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mold infections.
Led by Francesco Maria Lavino, Chief Executive Officer, F2G is a biotech company with operations in the UK, US, and Austria focused on the discovery and development of novel therapies to treat potentially life-threatening invasive fungal infections. The company has discovered and developed a completely new class of antifungal agents called the orotomides which selectively target a key enzyme in the de novo pyrimidine biosynthesis pathway. Olorofim (formerly, F901318) is F2G’s leading candidate from the orotomide class and is currently in a Phase 2b open-label study (ClinicalTrials.gov Identifier: NCT03583164) in patients who have limited treatment options for difficult-to-treat invasive, rare fungal mold infections such as azole-resistant aspergillosis, scedosporiosis, lomentosporiosis, and other rare mold infections.
F2G Raises $70M in Financing
F2G Ltd, a Manchester, UK-based clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat life-threatening rare fungal infections with a high unmet medical need, received $70m in financing
IDRx Raises $122M in Series A Financing
IDRx, Inc., a Plymouth, MA-based clinical-stage biopharmaceutical company dedicated to transforming cancer treatment with purpose-built precision combination therapies, raised $122m in Series A financing.
The round was led by Andreessen Horowitz and Casdin Capital, with participation from Nextech Invest, Forge Life Science Partners and other undisclosed investors.
Led by Ben Auspitz, co-founder and CEO, IDRx is a clinical-stage biopharmaceutical company dedicated to transforming cancer care with intelligently designed precision combination therapies. Its pipeline programs include small molecule tyrosine kinase inhibitors, IDRX-42 and IDRX-73, designed to inhibit key genetic drivers and drug-resistant mutations of gastrointestinal stromal tumor (GIST).
IDRX-42 and IDRX-73 were acquired through license agreements with Merck KGaA, Darmstadt, Germany, and Blueprint Medicines, respectively.
IDRx Raises $122M in Series A Financing
IDRx, Inc., a Plymouth, MA-based clinical-stage biopharmaceutical company dedicated to transforming cancer treatment with purpose-built precision combination therapies, raised $122m in Series A financing
Homeward Raises $50M in Series B Funding
Homeward, a San Francisco, CA-based company that delivers health and care in partnership with communities everywhere, starting in rural America, raised $50m in Series B funding.
The round was co-led by ARCH Venture Partners and Human Capital, with participation from General Catalyst, Lee Shapiro and Glen Tullman, Co-Founders of 7wireVentures.
The company will use the new funds to accelerate expansion into new markets through value-based contracts with health plans, invest in scaling its on-the-ground and virtual multidisciplinary care teams, including specialty care, as it expands into additional states in the coming months.
Led by Dr. Jennifer Schneider, chief executive officer, Homeward is an in-network provider that deploys an integrated care model including mobile, community-based care and technology. Through this approach, the company improves access to care, supports ongoing health management, and appropriately triages clinical services to help healthcare professionals practice at the top of their licensure. Homeward providers see members in mobile clinics throughout the community, virtually, and in members’ homes. These teams conduct physical exams, perform diagnostic tests, and integrate with regional health systems, local physicians, and specialists to provide care coordination, referring members to local in-person services as needed. Using cellular-based remote monitoring, Homeward keeps members connected to their multidisciplinary care team wherever they are, and uses the information to deliver a personalized care experience and positive health outcomes.
Homeward Raises $50M in Series B Funding
Homeward, a San Francisco, CA-based company that delivers health and care in partnership with communities everywhere, starting in rural America, raised $50m in Series B funding
Sironax Closes $200M Series B Financing
Sironax, a Beijing, China-based biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases, closed a $200m Series B financing.
The round was led by Gaorong Capital and Yunfeng Capital, with participation from existing investors including Temasek, Invus, F-Prime Capital, Eight Roads, ARCH Venture Partners, K2 Venture Partners and lead investors from previous financings. In addition to the co-leads, new investors include MSA Capital, CBC Group, Long River Investments, LSV Capital, Superstring Capital, and Future Innovation Fund as well as a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Sironax’s pipeline is comprised of multiple programs with a focus on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation. Sironax plans to use the proceeds to support the ongoing clinical development of its portfolio of receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitors in addition to the continued expansion of its R&D footprint and pipeline of potential best- and first-in-class candidates for age-related degenerative diseases.
Led by Aaron Ren, Ph.D., Chief Executive Officer, Sironax is a clinical-stage biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases. Since its founding in 2017, the company has built a diverse pipeline of multiple programs, focusing on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation. Sironax is currently conducting early clinical studies with SIR0365 and SIR2446, in addition to ongoing preclinical research.
Sironax Closes $200M Series B Financing
Sironax, a Beijing, China-based biotechnology company dedicated to the discovery and global development of novel treatments for patients with age-related degenerative diseases, closed a $200m Series B financing
Gilead Sciences to Buy MiroBio, for $405M
Gilead Sciences, Inc. (Nasdaq: GILD), a Foster City, California-based biopharmaceutical company, is to acquire MiroBio, an Oxford, England, U.K.-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors, for approximately $405m.
The acquisition will provide Gilead with MiroBio’s proprietary discovery platform and entire portfolio of immune inhibitory receptor agonists. MiroBio’s lead investigational antibody, MB272, is a selective agonist of immune inhibitory receptor B- and T-Lymphocyte Attenuator (BTLA) and has entered Phase 1 clinical trials, with the first patient dosed earlier this week. MB272 targets T, B and dendritic cells to inhibit or blunt activation and suppress an inflammatory immune response.
MiroBio’s I-ReSToRE platform (REceptor Selection and Targeting to Reinstate immune Equilibrium) has the potential to be used to develop best-in-class agonist antibodies targeting immune inhibitory receptors, a novel approach to the treatment of inflammatory diseases. The I-ReSToRE platform supports identification and development of therapeutics that utilize inhibitory signaling networks with the goal of restoring immune homeostasis for patients. Gilead anticipates advancing additional agonists derived from MiroBio’s I-ReSToRE platform, including a PD-1 agonist, MB151, and other undisclosed early-stage programs, over the next several years.
MiroBio was spun out of Oxford University in 2019 and is based on more than 15 years of foundational research from the labs of Professor Simon Davis and Professor Richard Cornall with the potential to create safer and more efficacious medicines for patients with autoimmune disease. MiroBio is backed by a strong group of international investors including Oxford Science Enterprises, Samsara BioCapital, SR One, Medicxi, Advent Life Sciences, OrbiMed and Monograph.
Gilead Sciences to Buy MiroBio, for $405M
Gilead Sciences, Inc. (Nasdaq: GILD), a Foster City, California-based biopharmaceutical company, is to acquire MiroBio, an Oxford, England, U.K.-based biotechnology company focused on restoring immune balance with agonists targeting immune inhibitory receptors, for approximately $405m
Fusion Fund Closes Fusion Fund III, at $120M
Fusion Fund, a Palo Alto, CA-based venture capital firm, closed its third fund, at $120m.
Fusion Fund III will support technical, data-driven founders aiming to build transformative and lasting businesses in healthcare, enterprise AI, and industrial automation.
Led by Lu Zhang, founder and managing partner, Fusion Fund backs early-stage entrepreneurs developing forward-thinking companies with technical and data advantages in their business models, with companies like Otter.ai, Mojo Vision, Mission Bio, EdgeQ, and Macrometa in its portfolio.
The firm was founded in 2015 after Zhang sold her own medical technology company that utilized thin-film sensors for highly sensitive diabetes detection. After building an angel investment portfolio with several large M&A and IPO exits, she started the firm to continue supporting technical founders, many of whom come from immigrant and diverse backgrounds.
