California Biotech Insights

Biotech Leader Spotlight

John Byon, CMO of Imugene Limited

August 7, 2025

Dr. Byon has extensive oncology drug development experience in the pharmaceutical and biotechnology industry. At Genentech, he worked on TecentriqÆ (atezolizumab) in hematological malignancies. For over the past 5 years, he has worked in the cell therapy space. First at Juno as the Global Development Lead for orvacabtagene autoleucel (JCARH-125) in Multiple Myeloma. Then at Lyell, working on next generation cell therapy products for solid tumors. Most recently, he was VP, Clinical Development Hematology at Fate Therapeutics, where he oversaw a portfolio of 5 iPSC-derived cell therapies (CAR-NK and CAR-T) in various hematologic malignancies (AML, MM, B-cell Lymphoma).

Biotech Market Update

Frazier Life Sciences $1.3B Fund, LTZ partners with Lilly, Actio Bio earns FDA Fast Track

August 5, 2025

Recent Funding: Frazier Life Sciences Closes $1.3B Fund to Launch and Back Early Biotech Companies Frazier Life Sciences raised $1.3B for its 12th venture fund, focused on creating and supporting early-stage private biopharma companies. The firm has helped launch 20 biotechs since 2020 and now manages over $3.6B across its venture funds. Equip (SD) Raises […]

Biotech Leader Spotlight

Robin Mansukhani, CEO of Deciduous Therapeutics

July 31, 2025

Robin Mansukhani is CEO and Co-Founder of Deciduous Therapeutics. Previously, he co-founded and served as President & CEO of Alzeca Biosciences, an Alzheimer’s/CNS diagnostic imaging company which was supported by venture investors and the NIH. He has been an invited speaker both domestically and abroad, including TEDx. Previously Robin has worked in early stage venture capital at The Maple Fund and investment banking at Axiom Capital. In the community, he co-founded BlueStamp Engineering, an intensive, project based engineering program for high school students in NYC, San Francisco, and Palo Alto. He has also served a term in AmeriCorps. Mr. Mansukhani holds a B.S. in Biochemistry from Case Western Reserve University. He lives in San Francisco with his wife, three daughters, and dog.

Biotech Market Update

MapLight $372M Series D, TCG Labs Soleil doubles fund to $800M, Gate Bioscience signs $856M deal with Eli Lilly

July 29, 2025

Recent Funding: MapLight Therapeutics (SF) Secures $372.5M Series D to Advance CNS Drug Trials MapLight secured one of 2025’s largest biotech raises to advance ML-007C-MA, its Phase 2 oral therapy for schizophrenia and Alzheimer’s psychosis, amid heightened industry interest in M1/M4-targeting drugs. The round was co-led by Forbion and Goldman Sachs, with backing from Sanofi, […]

Biotech Market Update

Omega closes $647M fund, Concentra acquires iTeos, FDA appoints new Head of CDER

July 22, 2025

Recent Funding: Omega Funds (Boston & Geneva) Closes $647M Life Sciences Fund with Focus on Therapeutics Despite a broader downturn in VC funding, Omega raised $647M for its 8th fund, targeting U.S. and EU biotechs developing treatments for severe diseases. The seasoned biotech VC matched its 2021 fund size and plans to invest in 20–25 […]

Biotech Market Update

Biotech Market Outlook (Industry-wide): Q2 Snapshot Highlights Mixed Fortunes

July 15, 2025

$98B in H1 deal value and $10.1B in licensing upfronts signal strong demand for later-stage assets, despite weak venture funding and IPO activity. VC investment fell 33% from Q1 to Q2, IPOs nearly halted, and PIPE/follow-on activity dropped significantly—creating a tough environment for early-stage startups.Big Pharma is prioritizing Phase 2 and 3 programs. Human clinical data is driving partnerships and M&A — not platform tech or preclinical work. 38% of large in-licensing deals this year involved Chinese biopharmas. This shift may create more global competition or pressure U.S. biotechs to partner early. Series A dropped to $1.2B in Q2 — the lowest since the COVID boom. This signals tightening capital access even for solid early-stage companies. Only 1 IPO made it through in Q2, and follow-ons are weak. Biotechs can’t rely on public markets for cash right now, raising the stakes for private funding or partnerships. Executives are aware that delayed exits, slow acquirers, and market volatility mean staying lean and focused is critical — or risk becoming a distressed M&A target.