Deal Watch: Aging-Focused Calico Taps Start-Up Terray For Discovery
Terray/Calico tie-up will focus on small molecule discovery for diseases of aging, including cancer. Lilly, AstraZeneca sign discovery pacts with Nimbus and Illumina, respectively.
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A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.
Public Company Edition: Follow-on offerings did not surge after ASCO, but Day One and Cogent raised $150m-plus. Also, IQVIA and Ionis sold $1.25bn and $500m in notes, while Krystal and Lexicon grossed $160m and $125m from post-approval offerings.
Deal Snapshot: Ginkgo will earn up to $406m in fees plus royalties as it works with Boehringer Ingelheim to mine its metagenomics database for drug candidates.