California
Biotech Insights
August 4, 2026
Recent Layoffs: Genentech (SF) to Cut 103 Jobs at South San Francisco Headquarters The Roche subsidiary filed a WARN notice for cuts effective July 29 across several business functions, not just the previously-disclosed Research and Early Development (gRED) reorganization. This is Genentech’s latest round in a rough year, bringing its total California layoffs to nearly […]
July 28, 2026
Recent Funding: Crystalys Therapeutics (SD) Raises Oversubscribed $130M Series B for De-Risked Gout Therapy The round, led by Frazier Life Sciences, Wellington Management, HBM Healthcare Investments, Soleus Capital, Cormorant Asset Management and others, brings Crystalys’s total raised to $335M. Proceeds advance dotinurad, a once-daily oral URAT1 inhibitor for gout, through global Phase 3 development and […]
July 21, 2026
Recent Funding: Chai Discovery (SF) Raises $400M Series C, Tripling Its Valuation in Seven Months The AI-driven molecular design startup closed a Series C led by Index Ventures, Kleiner Perkins, and Sequoia Capital at a $3.8B valuation, with its models already licensed by Eli Lilly, Pfizer, and Novartis. M&A, Deals, Partnerships: Jasper Therapeutics (SF) Merges […]
July 14, 2026
M&A, Deals, Partnerships: Vertex Pharmaceuticals to Acquire Crinetics Pharmaceuticals (San Diego) for $10 Billion Vertex agreed to acquire Crinetics for $85.00/share in cash, an equity value of approximately $10.0 billion, picking up Crinetics’ approved acromegaly drug Palsonify along with its endocrine-disorder pipeline. Note: announced Monday, July 6 — one day before this week’s window but […]
July 7, 2026
Recent Funding: BridgeBio Pharma (SF) Raises $1 Billion in Preferred Equity Ahead of Three Drug Launches BridgeBio closed a $1B convertible preferred equity deal led by Sixth Street ($800M) and KKR’s HealthCare Royalty ($133.9M), carrying a 7% initial dividend and a conversion price of $137.79/share — more than 100% premium to its 30-day VWAP — […]
June 30, 2026
Recent Funding: Saturnus Bio (SF) Launches with $50 Million from Merck KGaA in Built-to-Buy Deal Versant Ventures has launched Saturnus Bio with $50 million from Merck KGaA to develop gene-targeted treatments for rare inherited heart muscle diseases — conditions that can cause heart failure and sudden death and currently have no approved therapies addressing their […]
