Endeavor Launches With $62m And A Hedgehog Inhibitor From Lilly
Co-Founded By Former Impact Biomedicines CEO, Initial Focus Is IPF
John Hood spent the past few years looking for a drug candidate worth forming a new company around before he zeroed in on Lilly’s taladegib as a treatment for idiopathic pulmonary fibrosis.
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Ventus Therapeutics raised a $140m series C while Endeavor Biomedicines brought in $101m in series B cash. Also, Twist Bioscience grossed $250m in a follow-on offering, BioMarin raised $110m when it sold a priority review voucher and Nuvectis, TC BioPharm launched IPOs.
Inrebic, Celgene’s myelofibrosis treatment, and Yuflyma, Celltrion’s high-concentration adalimumab biosimilar, are among the latest new drugs that have been recommended for approval for use across the EU. Meanwhile, TETEC has withdrawn its EU marketing application for Artobend.
Start-up Impact's new structured financing – its second fundraising event this month – will pay out in increments as fedratinib nears the market. Also, Ablynx closed its $200m US IPO; Chi-Med follow-on brings in $262m; and VCs gives Cydan $34m to launch new companies.