Gwendolyn Wu

An unusual tussle over the availability of funds for Apple Tree’s startups led the firm to seek protection from creditors while it restructures.

The deal, which includes another $200 million in potential payouts, hands the California biotech a candidate in late-stage testing for the most severe form of viral hepatitis. 

The startup’s lead prospect stabilizes abnormal proteins in patients with amyloid “light chain” amyloidosis, an approach that could represent a step forward compared to current therapies. 

The cell therapy maker said Thursday the raise will support an ongoing trial of its experimental treatment for the neurodegenerative condition, as well as plans for building its manufacturing capabilities.

On the heels of a data readout suggesting one of its cancer drugs could become a future blockbuster, Zymeworks is adopting a new strategy its CEO says will create “more consistent value for shareholders.”

The new fund will mostly support biotechs making new drugs, with investments spanning from initial financings to follow-on rounds. 

The European venture firm raised 500 million euros, or about $579 million, for its latest fund, which follows a flurry of recent buyout deals involving portfolio companies like Merus and Vicebio.

The alliance extends a deal streak in genetic medicine for Lilly and hands the company rights to an experimental treatment for an ultra-rare form of childhood blindness.

The pharma giant disclosed in an earnings report that it paid $170 million up front to acquire SixPeaks Bio, a weight loss-focused startup it helped launch last year.

The immune drugmaker is the second biotech, along with MapLight Therapeutics, to recently use a workaround in U.S. securities law to price an offering during the shutdown. 

According to a new BioPharma Dive analysis, corporate-related funds such as Novo Holdings, Eli Lilly and Sanofi Ventures have been among the most active investors in biotech startups this year.

The San Francisco-area biotech has a therapy in mid-stage testing for secondary hemophagocytic lymphohistiocytosis, a rare inflammatory condition.

The prolific company creator is staking $50 million on AI drug discovery for cancer and immune diseases, launching a biotech that already has a partnership with Pfizer.

The German biotech banked one of the larger funding rounds this year to support an ovarian and non-small cell lung cancer drug that’s being showcased at a medical meeting on Sunday.

A young biotech nets $70M for a new type of allergy drug

The company believes its lead drug, which is currently in mid-stage testing, could address limitations of other therapies for chronic skin hives.

The company set terms for an offering with the help of a little-used section of the Securities Act that would enable its IPO to price automatically in 20 days.

The Italian drugmaker will pay as much as $115 million in upfront and near-term payments in a deal that gives it rights to a treatment in early-stage testing for primary hyperoxaluria type 1.

The company is working on T cell engagers and other multifunctional antibodies, led by a prospect it believes might be helpful treating the vast majority of colorectal cancer cases.

The French pharma’s venture arm will use the funds to back companies working in immunology, neurology, rare diseases and vaccines.