Recent Funding:
Epicrispr Biotechnologies (SF) Secures $90M Series C After Early FSHD Data
The Series C brought in $90 million on the back of promising early clinical data for EPI-321, an epigenetic gene-silencing candidate for facioscapulohumeral muscular dystrophy (FSHD), under CEO Amber Salzman. The raise deepens the company’s bet on epigenetic editing — modifying gene expression without cutting DNA — as a route to treating rare neuromuscular disease.
Infinimmune (SF) Raises $75M Series A to Advance Human-Derived Antibody Drugs
The Series A was co-led by Regeneron Ventures and Playground Global, with RA Capital Management, Merck’s Global Health Innovation Fund, Pear VC and others joining, for a total of $75 million. The money funds two atopic dermatitis antibody candidates toward first-in-human studies in 2027 and continued work on the Anthrobody platform, which mines antibodies directly from the human immune system.
Khartis Therapeutics (SD) Emerges From Stealth With $95M for a Thyroid Eye Disease Pill
The company launched publicly with a $50 million Series B — bringing total funding to $95 million — led by Forge Life Science Partners with Longwood Fund and Alexandria Venture Investments; it was founded by former XinThera and Pfizer chemist Robert Hoffman. Khartis is developing an oral IGF-1R inhibitor for thyroid eye disease as a pill alternative to infused drugs like Amgen’s Tepezza, with its first clinical trial planned for the first quarter of 2027.
M&A, Deals, Partnerships:
Skye Bioscience (SD) Combines With Redx Pharma to Form Fibrx Therapeutics
The reverse-merger-style combination brings $125 million in financing to a new, Nasdaq-bound company that will advance Redx’s lead anti-fibrotic RXC008, a Fast Track-designated candidate for fibrostenotic Crohn’s disease, with phase 2 data expected in the second half of 2028. Skye shareholders will keep 90% of any future net proceeds from its shelved obesity drug nimacimab; the combined company will be led by Redx CEO Lisa Anson and headquartered in the U.K.
Sangamo Therapeutics (SF) to Sell Assets to PTC and Lilly for Up to $264M in Bankruptcy Auction
The bankrupt gene-editing pioneer will sell pieces of its business to PTC Therapeutics and Eli Lilly for up to $264 million through a court-supervised auction process. The divestiture marks a further unwinding of the once-prominent zinc-finger gene-editing company as it works through its bankruptcy.
Sentynl Therapeutics (SD) Signs Up to $475M Option Deal for Mereo’s Lung Disease Drug
The rare-disease specialist (a Zydus subsidiary) secured U.S. option and license rights to Mereo BioPharma’s phase 3-ready alvelestat for alpha-1 antitrypsin deficiency-associated lung disease, in a deal potentially worth $475 million. Sentynl would pay $40 million upfront and in R&D plus up to $435 million in milestones and tiered double-digit royalties, adding a fourth rare-disease asset alongside its approved products Nulibry and Zokinvy.
OmniAb (SF) Lands Up to $370M Ion Channel Collaboration With Eli Lilly
The antibody-discovery platform company signed a global collaboration and license agreement with Eli Lilly worth up to $370 million in milestones, plus an undisclosed upfront, for a new ion channel program. Specific target and modality were not disclosed; the deal adds Lilly to an OmniAb partner roster that already includes Johnson & Johnson, Boehringer Ingelheim, Merck KGaA and Teva.
Aizen Therapeutics (SD) Partners With San Diego Biopharma on Oral Peptide Drugs
The AI-native biotech entered a multi-program collaboration with an undisclosed, publicly traded San Diego biopharma to design oral peptide (oral biologic) therapeutics using its DaX foundation model. The agreement provides Aizen with several million dollars in initial revenue plus up to $100 million in milestones per nominated target, focused on immunology and neurology indications.
Other Interesting News:
Capricor Therapeutics (SD) Soars on Plan to Amend DMD Filing After Adcomm Setback
After an FDA advisory committee voted 9-3 against the cardiomyopathy efficacy of its Duchenne muscular dystrophy cell therapy deramiocel, Capricor secured FDA agreement to file an amendment refocusing the application on the trial’s primary upper-limb-function endpoint. Shares jumped 71% to $7.19; the company expects the FDA to extend the current Aug. 22 PDUFA date once it submits the amendment, which will include 24-month open-label extension data.
Aardvark Therapeutics (SD) Scraps Phase 3 Trials as It Awaits a Path Forward
The metabolic-disease biotech told investors it will not resume its recently terminated phase 3 trials “as previously designed,” after the FDA placed a full clinical hold on all studies of lead candidate ARD-101 over reversible cardiac observations in healthy volunteers. Aardvark trimmed its team to 28 employees (from 40 in April) and projects a cash runway into late 2027 while it assesses unblinded phase 3 data to determine next steps.
MapLight Therapeutics (SF) Pauses Preclinical Work to Fund Phase 3-Ready Schizophrenia Drug
The neuroscience biotech will pause investment in its preclinical and discovery programs to concentrate on phase 3-ready schizophrenia candidate ML-007C-MA, following mixed phase 2 Zephyr results in July. A recent $150 million private placement, on top of $351.3 million in cash at the end of June, is expected to fund the schizophrenia and Alzheimer’s-psychosis programs through the end of 2028.
