Start-Ups & SMEs

On the back of a “truly one in a million” case, Ashibio has revived research into Gilead's discontinued asset andecaliximab after it showed promise in the ultra-rare musculoskeletal condition FOP.

Ensho Therapeutics is raising series A cash to develop Phase II-ready NSHO-101 (EA1080), a third oral ɑ4β7 integrin inhibitor attempting to take on Takeda’s blockbuster injectable Entyvio.

The companies are set to present Phase III results from their rival myostatin inhibitor drugs for spinal muscular atrophy in Q4, while also fast-tracking the candidates in obesity studies.

Private Company Edition: J.P. Morgan raised more than $500m in its first venture fund and the Africa Health Security Investment Plan gained $2bn. Also, Marea launched with $190m, Iambic’s series B expanded to $150m, InduPro raised an $85m series A and Elion closed an $81m series B.

A first big pharma partnership for Ascidian, headed up by ex-Biogen research head Michael Ehlers, as the Swiss firm expands its gene editing and neuroscience efforts.

Private Company Edition: Scrip spoke with the leaders of Gateway Labs and Cure at the BIO International Convention about their mini ecosystems. Also, radiopharmaceutical firm ITM raised €188m ($201.9m), Santa Ana Bio emerged with $168m and Alzheon’s series E totaled $100m.

The company formed around technology from the labs of MIT’s Robert Langer and Giovanni Traverso and already has a lead asset in the clinic.

Private Company Edition: Amplitude Ventures raised $192m for its second fund, while XGEN Venture debuted with €160m ($173.4m). Also, hub-and-spoke biopharma operator CinRx added $73m, Adcendo extended its series A round to €98m ($106.2m) and Grey Wolf raised $50m.

Intense competition in ADCs means Pheon is holding back details on its technology as it heads into Phase I studies after a $120m series B fundraising.

Emerging Company Profile: Efficacy data on the young group’s first pH-engineered antibody-drug conjugate could come next year, and potential partners will be watching.

Private Company Edition: AltruBio raised up to $225m and Pheon garnered $120m in series B financings, while Lycia brought in $106.6m in series C cash. Also, Sands Capital closed its third life science fund, totaling $555m, and NewVale Capital debuted with $167m for life science services.

After starring in India’s first CAR-T treatment, the country’s Indian Institutes of Technology, or IITs, are set to expand their drug development footprint. Scrip takes a look at what the Indian equivalents of the Massachusetts Institute of Technology have going for them, including sizeable funding and alumni like Alphabet's CEO.