Financing

Autobahn raised $100m in series C venture capital to take its oral, brain-penetrant thyromimetic ABX-002 into Phase II studies in major depressive disorder and bipolar disorder depression.

Adding Oxford to its roster will help Apollo widen its net for potential first-in-class therapies, and connects with the university’s ambition to build world-beating spin-outs.

Restructuring Edition: Financial market conditions are improving, but gains have not stopped some companies from cutting costs or shutting down. MEI may wind down if it does not identify another strategic alternative and Aslan has begun to liquidate, while others have cut jobs.

Flush with cash, the controlling stakeholder of Novo Nordisk’s life sciences investment arm is increasing its financing of other biopharma innovators.

Artiva grossed $167m by selling more shares than previously planned, but at a significantly lower price per share than it proposed earlier in the week, to fund its NK cell therapy programs.

Private Company Edition: After its acquisition by an investor earlier this year, NGM Bio has raised a $122m series A round, adding to a recent surge in large venture capital financings. Also, Vanqua Bio disclosed $45m in new funding and Renalys completed a $38.4m series A.

The company’s series B venture capital will fund Phase IIb trials of PDE9 inhibitor CRD-750 in heart failure and a Phase IIa study of CaMKII inhibitor CRD-4730 in a rare arrhythmic disease.

The oncology-focused start-up announced it closed a $150m series C financing that it plans to use to advance STX-478.

Six biopharma companies have filed to list their shares on US exchanges so far this year, but the sums they are seeking are small.

The German biotech has unveiled a $150m series D financing round to support a “broad Phase IIb development program for visugromab” and explore its potential to induce cancer remission depth and durability across multiple solid tumor indications.

The Switzerland-based company is ready to begin a Phase II study with a novel OGA inhibitor after raising $100m from a consortium of investors.

Public Company Edition: The IPO market in the US cooled in Q2, but a warm-up may come in Q3 alongside new SPAC merger opportunities; Artiva may be the next biopharma firm to go public. Also, IDEAYA and Recursion grossed $302.4m and $200m, respectively, in follow-on offerings.