A Tale Of Two Gene Therapy Biotechs: Freeline Divests As Kriya Invests
Freeline Therapeutics and Kriya are taking divergent paths to success amid market doldrums, as the former divests and pulls back on investment, while the latter bulks up its pipeline through an acquisition.
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Plus deals involving Kelun Biotech, Pierre Fabre/Vertical, Novo Nordisk/Broad Institute, ABL Bio/Synaffix, Kriya/Tramontane, Palisade/Giiant and more.
Public Company Edition: ImmunoGen received the first $75m under a $175m term loan, while Protagonist raised $100m in a follow-on offering, but companies with bankruptcy filings and job cuts outpaced those accessing new capital by a wide margin in late March and early April.
The gene therapy firm announced that Bristol terminated a collaboration started in 2015. Nona follows its recent alliance with Moderna with a second collaboration, this time with Dragonfly.