During a season of giving, investors were extra generous to these biotech companies this week.
During a season of giving, investors were extra generous to these biotech companies this week.
Exai Bio
Taking a non-invasive approach to biopsies, Exai’s early cancer detection platform scored $67.5 million this week to further development. By taking cell-free RNA profiles, the tech runs liquid biopsies to detect the deadly disease. “Combining oncRNA technology with cutting-edge machine learning and artificial intelligence to decipher tumor signals and understand the active biology of disease, Exai Bio’s next generation liquid biopsy platform provides actionable information to help inform accurate clinical decisions,” said Exai’s CEO.
AnHeart Therapeutics
Fueling its next-gen ROS1 inhibitor for non-small cell lung cancer, AnHeart scooped up $61 million in an oversubscribed Series B round. By targeting ROS1, taletrectinib is intended to deliver cancer-fighting power straight to tumor cells while avoiding healthy ones. If approved, taltrectinib would be the first drug rubber stamped by the FDA that can overcome resistance to crizotinib, a targeted therapy currently used to treat NSCLC. With the first patient dosed in October, AnHeart hopes to enroll 118 more in its Phase II trial for NSCLC patients who harbor the ROS1 fusion gene. Funds will also advance the pipeline of additional next-gen cancer therapies.
Route 92 Medical
This med tech company is adding $110 million to its coffers thanks to a $56 million Series E with the added help of a secured loan. Route 92 focuses on stroke intervention with its proprietary reperfusion system. Gearing up to enroll its SUMMIT MAX trial, the funds should take the product through to FDA clearance and limited commercialization. Reperfusion restores blood flow to regions of the brain to reduce disability caused by an acute stroke. Stroke is the second-leading cause of death globally, and the leading cause of long-term disability.
Utilizing the myxoma virus as a delivery vehicle, OncoMyx’s pipeline is advancing candidates to treat solid tumors and blood cancers. Myxoma is a natural oncolytic virus able to selectively infect and kill a variety of cancer types, while carrying multiple payloads. The virus is not naturally occurring in humans, so there is no complication of pre-existing immunity and presents the ability to re-dose. This week’s $50 million Series B should take its lead candidate into trials next year to prove safety and efficacy with IV dosing.
Oncology-focused Phosplatin added fresh capital to the tune of $37 million. The Series A funds will fuel its lead candidate, PT-112, the first pyrophosphate-platinum conjugate with a mechanism to induce immunogenic cell death. Already in two Phase II trials, the drug is being tested as a monotherapy against metastatic castration-resistant prostate cancer and in combination with a PD-L1 immune checkpoint inhibitor in NSCLC patients.
K36 Therapeutics
With rights acquired from Novartis, K36 is developing a targeted therapy for multiple myeloma patients. A first-in-class selective inhibitor of HMT MMSET, it has the potential to address a significant unmet need in multiple myeloma patients. With this week’s $30 million Series A, K36 will push on the development of KTX-1001 towards the clinic.
Endogena Therapeutics
Eyeing a bigger piece of the pie, Endogena snagged a total of $29 million for its Series A, mostly thanks to its largest partner Rejuveron Life Sciences. Once the IND is approved, Endogena’s lead program will advance into first-in-human trials in the U.S. for retinitis pigmentosa (RP), a rare, inherited eye disease that causes severe vision impairment. Thanks to expedited review from an orphan drug designation, the study for EA-2353 is expected in the first half of 2022. RP is the leading cause of inherited blindness and has no cure currently. A second candidate for geographic atrophy will take the path to an IND approval as well.
Bloom Science
On the heels of the House of Representatives unanimously approving a funding bill for ALS research, neuro-focused Bloom Science closed on its own private funds. The $12 million will funnel into Bloom’s ALS candidate and its lead program for orphan, drug-resistant epilepsies. The San Diego company’s platform focuses on the gut-immune-brain axis for severe or untreatable neurological and inflammatory conditions.
