Three Chinese biopharmaceuticals have filed for IPOs on the Hong Kong exchange in July alone, highlighting a potential “newfound positivity” to strengthen the HKEX IPO market in the second half of 2024.

Alkira Bio, a new spinout from Australia’s Florey Institute of Neuroscience and Mental Health has emerged from stealth mode thanks to seed funding from Curie.bio. Although the amount of funding is not disclosed, Curie.bio typically invests $5 million to $10 million in a founder company and then co-pilots the drug discovery program, deploying drug development experts to its portfolio companies to help navigate decision making as part of the deal, Florey researcher turned Alkira Bio CEO Daniel Scott told BioWorld.

Deepc GmbH recently raised a further $13 million in a series A extension round to close the round at $26 million for its artificial intelligence (AI)-based operating system, Deepcos, which is designed to provide radiologists with a wide variety of AI-based solutions.

Draupnir Bio is poised to advance a new approach to targeted protein degradation by engaging the sortilin receptor on lysosomes to promote the destruction of extracellular and membrane-bound disease proteins.

G protein-coupled receptor (GPCR) drug discovery and development specialist Confo Therapeutics NV has closed a €60 million (US$65.2 million) series B round that will fund a significant expansion of the inhouse portfolio while it continues to turn the handle on its technology platform to generate more compounds for partnering.