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 life sciences companies, including recent bets in small molecules for obesity and asthma. Backed by major LPs, Omega has seen recent exits via Lilly and Merck and continues to avoid public listings in favor of long-term strategic alignment.
M&A, Deals, Partnerships:
iTeos Therapeutics (MA) to Be Acquired by Concentra Biosciences (SD)
Concentra will acquire iTeos for $10.047 per share in cash, plus a potential payout via contingent value rights tied to excess cash and asset sales. The deal follows a strategic review and is expected to close in Q3 2025, pending shareholder and regulatory approval.
Other Interesting News:
FDA Appoints Former La Jolla Pharma CEO to Lead Drug Evaluation Division
George Tidmarsh, a longtime biotech leader and former CEO of La Jolla Pharmaceutical and Horizon Pharma, has been named head of the FDA’s Center for Drug Evaluation and Research (CDER). Tidmarsh brings biotech experience from multiple California-based therapeutics companies and will step in amid FDA restructuring and leadership turnover.
HHS Leadership Shakeup Under RFK Jr. May Signal Shifts in Federal Health Policy
Robert F. Kennedy Jr. replaced HHS Chief of Staff Heather Flick and Deputy Chief Hannah Anderson with political appointee Matt Buckham, raising questions about internal direction. The shakeup comes amid growing scrutiny of HHS policy shifts, including potential changes to vaccine regulation and public health priorities that could impact biotech oversight.
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