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Latest From KAI Pharmaceuticals
Good news in the biopharma industry and the US economy gave public drug developers the boost they needed to raise cash, including Karuna’s $750m offering. Private company financings slowed during the second week of August, but Prellis and Vector BioPharma raised venture capital.
The PureTech Health-founded entity believes it has made a significant step forward in the treatment of schizophrenia with its muscarinic-receptor acting agent KarXT, which could offer a completely new way to address all three symptom domains of the disease.
Private Company Edition: Sironax completed a $200m series B round while IDRx launched with $122m and OriCell raised $120m in series C funds, joining end-of-July $100m-plus fundraiser Carmot Therapeutics, which closed a $160m series D financing.
The German major is investing heavily in cancer R&D and has opened the doors of a new facility in the biotech epicenter on the east coast of the US.