Recent Funding:
Evommune (SF) Raises $115M to Advance Immune-Focused Drugs for Chronic Skin Conditions
Evommune has secured $115 million in Series C funding to support its pipeline projects of treatments for chronic immune conditions, with a focus on oral therapies for skin disorders. The Palo Alto biotech will use the funds to advance Phase 2 trials of its lead drug, EVO756, for chronic urticaria, and prepare EVO301, targeting IL-18 for atopic dermatitis, for further testing. Led by RA Capital and Sectoral Asset Management, this funding round may set the stage for a potential IPO, as the company plans to keep its public market options open.
Archon Biosciences (Seattle), a biotechnology company pioneering computationally designed Antibody Cages (AbCs) to unlock powerful therapeutic targets beyond the reach of existing modalities, today announced its emergence from stealth with $20 million in seed financing.
The financing was led by Madrona Ventures with participation from DUMAC Inc., Sahsen Ventures, WRF Capital, Pack Ventures, Alexandria Venture Investments and Cornucopian Capital.
AbCs are a completely novel class of biologic composed of antibodies combined with a boundless set of AI-generated protein structures that have never existed in nature. Precise control over AbC structure provides the ability to tune both how they distribute in the body and engage their cellular targets with high specificity and potency to establish a new gold standard in drug development.
Recent Layoffs:
Nov. 5 – Sana Biotechnology: In a strategic restructure that includes shifting resources from cancer to autoimmune diseases, the cell therapy biotech is also be laying off an undisclosed numbers of employees. When asked how many staffers will be impacted, a Sana spokesperson said the company is “working on the exact number and timing of exits” with “all functions affected.”
M&A, Deals, Partnerships:
Aerovate Therapeutics and Jade Biosciences (SF) Announce Merger Agreement
Merger to create a company focused on advancing Jade Biosciences’ portfolio of novel therapies that aim to redefine the standard of care for patients with autoimmune diseases.
Jade Biosciences, the fourth company founded on assets licensed from Paragon Therapeutics, expects to initiate a clinical trial for JADE-001, a promising anti-APRIL (“A PRoliferation Inducing Ligand”) monoclonal antibody (“mAb”) for IgA nephropathy (“IgAN”), in the second half of 2025.
Approximately $300 million raised to date involving more than a dozen life sciences investors, among them Fairmount, Venrock Healthcare Capital Partners, RA Capital Management and Samsara BioCapital, including anticipated proceeds from an oversubscribed pre-closing private financing, expected to fund operations through 2027.
Other Interesting News:
Cancer cell therapy from Arcellx (SF), Gilead shows promise in early data
A cancer cell therapy developed by Arcellx and Gilead Sciences helped reduce or eliminate signs of multiple myeloma in 95% of people in advanced stages of disease, the companies said Monday. The data, from trial volunteers whose cancer progressed after prior treatment, compared well to the leading multiple myeloma cell therapy, Johnson & Johnson and Legend Biotech’s Carvykti.
None of the trial volunteers taking the Arcellx cell therapy have so far experienced movement disorders caused by nerve damage, a side effect that has worried doctors treating multiple myeloma. A safer cell therapy that’s just as effective as Carvykti could be more attractive to patients and physicians, according to analysts.
The data came in an abstract of a presentation that’s scheduled to be presented at the American Society of Hematology’s annual meeting in December. The companies also have released data from a small Phase 1 test of the cell therapy in people with multiple myeloma in earlier stages.
