Corporate VCs Wade In With Funds To Pursue Gene Therapy For Wilson Disease
Rare copper-overload disorder Wilson disease is seeing a surge of interest: one new copper chelator recently garnered a CHMP recommendation, a novel copper modulator has had promising Phase II data, and French biotech Vivet has secured significant funds to pursue a gene therapy approach to the disease.
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The big pharma has acquired a 15% equity stake in the privately-held gene therapy developer and an option to purchase all outstanding shares.
Iterum Therapeutics and Genoa Pharmaceuticals topped the list of biopharmaceutical start-up firms closing new venture capital rounds in May with $65m and $62m, respectively, to advance drug candidates for bacterial infections and idiopathic pulmonary fibrosis.
In VC deals, Magenta raised $50m, licensed a Novartis asset and engaged an important partner. Seven public companies revealed financial transactions totaling $947.4m, including Achaogen's $20.5m from the Gates Foundation. Also, OncoMed, Regulus and Depomed provided restructuring updates.