Latest From Mandy Jackson
Septerna’s platform purifies G-coupled protein receptors (GPCR) to identify new drug targeting sites and then uses technologies such as machine learning to find novel compounds against hard-to-reach GPCRs.
The median pre-discount cost of Kimmtrak – the first approved TCR therapy and the first drug cleared for metastatic uveal melanoma – is $430,000, but the company says payers see the product’s value.
Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.
ImmPACT Bio is advancing three CAR-T technology platforms that aim to address problems such as antigen escape, off-target toxicities and the immunosuppressive tumor microenvironment.
Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.
Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.