Recent Funding:
Neurona Therapeutics (SF) Raises $102M to Advance Regenerative Cell Therapy for Epilepsy
The funding will support a pivotal Phase 3 trial for NRTX-1001, an allogeneic cell therapy for drug-resistant mesial temporal lobe epilepsy, following positive Phase 1/2 results and FDA alignment. The round was led by major life science investors including Fidelity, The Column Group, Viking Global, and others, and builds on a previous $120M raise in 2024.
RayThera (SD) Raises $110M Series A to Advance Small Molecule Immunology Pipeline
The funding, led by Foresite Capital and OrbiMed Advisors, will support preclinical programs through Phase 1 trials. Founded by the team behind XinThera, RayThera focuses on developing first- and best-in-class small molecule therapies for immunological diseases.
M&A, Deals, Partnerships:
Backed by Oak HC/FT, Artis acquired Landmark Bio, a Boston-founded CDMO specializing in cell and gene therapy manufacturing and translational research. Artis, led by CEO Brian Neel and CSO Mike Houston, aims to streamline development and commercialization of genetic medicines with end-to-end CDMO capabilities.
Eli Lilly pays struggling Sangamo (SF) $18M upfront to tap gene therapy capsid
Sangamo signed an exclusive global license agreement with Eli Lilly, granting access to its proprietary neurotropic AAV capsid, STAC-BBB, for up to five CNS disease targets. The deal includes an $18M upfront payment, with up to $1.4B in additional milestone payments and royalties. Lilly will handle development and commercialization, while Sangamo completes a technology transfer.
Allakos Inc to be acquired by Concentra Biosciences after recent restructurings
Concentra Biosciences, backed by Tang Capital, agreed to acquire Allakos for $0.33/share in cash following a Phase 1 failure and 75% workforce reduction at the biotech. The deal, expected to close next month, marks Concentra’s first major acquisition since 2023 and does not include contingent value rights. Tang Capital recently acquired a 9.7% stake in Allakos and is also building a position in Cargo Therapeutics.
FDA Approvals:
FDA grants accelerated approval for Novartis’ kidney disease drug Vanrafia
Novartis’ Vanrafia (atrasentan) received accelerated FDA approval to treat IgA nephropathy (IgAN) without a REMS safety program, triggering a $160M payout to Chinook Therapeutics shareholders from their 2023 acquisition. This ives Vanrafia a regulatory edge over Travere’s Filspari, which carries a REMS due to liver toxicity concerns, though Filspari has full FDA approval and had strong 2024 sales at $132M.
Other Interesting News:
Biotech Sector Feels Pressure Amid Trump Tariffs and Market Turbulence
The XBI biotech index is down over 30% since November 2024, entering correction territory, as Trump’s tariffs and sustained high interest rates rattle markets. CEOs from Eli Lilly and Roivant anticipate biotech R&D cuts, layoffs, and reprioritizations, with smaller biotechs most at risk amid capital constraints and economic uncertainty.
