On the heels of a $4.6 million series A round in December 2023, cell therapy company Rxcell Inc. is planning to raise another $15 million in 2024 to take its iPSC-derived photoreceptors to the clinic for retinitis pigmentosa and other degenerative diseases of the retina.
The biopharma sector secured $13.84 billion in financings in March, marking a 38% decline from February’s $22.3 billion, yet a 27% increase from January’s $10.9 billion. In 2023, biopharma financings averaged $5.91 billion per month. March brought two biopharma IPOs, totaling $2.65 billion, driven by Galderma Group AG’s inaugural offering of more than $2 billion.
Building D&D Pharmatech Inc. has been a rollercoaster ride, according to CEO Seulki Lee. The U.S. and Korea-based biotech is on another ascent, having scored U.S. FDA fast track designation for its metabolic dysfunction-associated steatohepatitis (MASH) drug, ahead of its third attempt at a public listing.
Medicxi has made its first ever investment in China – and its biggest single commitment to date – putting $40 million into D3 Bio Inc. The investment by the London-based venture capital firm will accelerate development of D3’s lead program D3S-001, a second generation KRAS G12C inhibitor, which is in phase II development in advanced solid tumors.
Top of FormMed-tech financings in March totaled $1.79 billion. Although a decline from February’s total, the cumulative value for the first three months of the year reached $6.02 billion, an increase from $4.69 billion during the same period the previous year.
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