BEIJING – China, Yantai-based biologics maker Remegen Ltd. has raised about $100 million in a private round led by Lilly Asia Ventures and Lake Bleu Capital to advance its autoimmune, oncology and ophthalmology drug candidates, especially its NDA-stage RC-18 (telitacicept) for system lupus erythematosus (SLE).
New York-based Deerfield Management Co. has secured $840 million for a new venture capital fund to support innovations in biotechnology, medical technologies and digital health. James Flynn, managing partner of Deerfield, said roughly half of the fund will focus on early-stage therapeutic R&D, much of that coming from academic partnerships. The remainder will be used to back companies developing novel advances in med-tech interventions, diagnostics and digital health.
Med-tech firms raising money in public or private financings, including: Akers Biosciences, Cybermdx, Datos Health, Invitae, Monarch Biosciences, Tyto Care.
Against a backdrop of nearly 15 global biopharma IPOs on deck on a day when all major U.S. market indices fell, shares of cancer drug developer Zentalis Pharmaceuticals Inc. (NASDAQ:ZNTL) shot up 29% to $23.20 on April 3 after an upsized initial filing to sell 9.2 million shares at a top-of-range $18 each.
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