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Private Company Edition: In the latest round of $100m-plus venture capital financings, CG Oncology, MBX Biosciences and Jnana Therapeutics raised $120m, $115m and $107m, respectively. Also, MVM Partners closed a $500m fund and former Sage CEO leads incubator ABio-X in Massachusetts.
While neither company reported new data from their ongoing trials at AASLD, the firm’s competing THRβ agonists are viewed as leading lights in the non-alcoholic steatohepatitis competition.
Despite all of the buzz around adoption of digital health tools and whopping VC investments in consumer-facing digital health firms, pharma has yet to articulate a business model for co-development or integration of behavior-modifying digital therapeutics into their portfolios.
With Akero’s FGF21 analog showing ability to reduce fibrosis and resolve non-alcoholic steatohepatitis, some analysts think classmate BIO89-100 could yield a better overall profile. NASH data are starting to pour in.
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- Altana AG