Recent Funding:
Kivu Biosciences (SF) raises $92 mil in Series A funding
Kivu Biosciences, based in San Francisco, has secured $92 million in Series A funding to advance its proprietary technology for developing more precise and stable antibody-drug conjugates (ADCs) aimed at cancer treatment. With support from Novo Holdings and others, Kivu aims to address ADC limitations by improving stability and minimizing side effects, with its first clinical trials in solid tumors slated for next year. The company’s technology uses Synaffix linkers and a topoisomerase inhibitor to enhance tumor targeting and reduce toxicity.
M&A, Deals, Partnerships:
Lyell Immunopharma (SF) Acquires ImmPact Bio, Refocuses on Core Cancer Cell Therapy Programs
Lyell Immunopharma has announced the acquisition of ImmPact Bio, a cell therapy startup specializing in cancer and autoimmune treatments, for $30 million in cash and 37.5 million shares of Lyell stock. ImmPact stakeholders stand to receive an additional 12.5 million shares and sales royalties based on certain milestones. This acquisition comes as Lyell narrows its focus on key cancer immunotherapies, halting other research initiatives to extend its financial runway into 2027.
IPOs:
Septerna (SF) Prices $288M IPO to Advance GPCR Drug Development
Septerna, a biotech focused on G protein-coupled receptor (GPCR) drugs, raised $288 million in its IPO, surpassing its initial target with 16 million shares at $18 each. The funds will support the company’s lead drug candidate, SEP-786, which aims to treat hypoparathyroidism, and SEP-631, intended for chronic spontaneous urticaria. This IPO marks Septerna as one of the most well-funded GPCR-focused companies, signaling strong investor interest in biotech with clinical-stage assets.
FDA Approvals:
Sangamo Therapeutics (SF) Secures Accelerated Approval Pathway for Fabry Disease Gene Therapy
The FDA has provided Sangamo Therapeutics with a regulatory pathway to pursue Accelerated Approval for its gene therapy candidate, isaralgagene civaparvovec (ST-920), intended for Fabry disease. Approval will be based on one-year eGFR slope data from the ongoing Phase 1/2 STAAR study, bypassing the need for an additional registrational study and advancing approval estimates by three years. Sangamo aims to submit a Biologics License Application (BLA) by late 2025.
Other Interesting News:
Dimension Capital (FL) Aims to Raise $500 Million to Digitize Life Sciences
Dimension Capital, a venture capital firm focused on transforming the life sciences through digital innovation, has filed with the SEC for a $500 million follow-up fund after its $350 million debut in January 2023. The firm, founded by former Lux investors Adam Goulburn and Zavain Dar and ex-Obvious Ventures partner Nan Li, targets startups led by scientists and engineers who merge disciplines like biology, chemistry, and AI to innovate in life sciences. Notable investments include Enveda Biosciences and Chai Discovery, which use plant chemistry and AI, respectively, to drive drug discovery.
