Finance Watch: Dyno Therapeutics Raises $100m For Novel AAV Vectors

Roger Perlmutter Resurfaces As CEO Of Eikon, Raises $148m

 
• By Mandy Jackson
  
Generate a summary of this article
Listen to this article
Beta

Private Company Edition: Dyno’s first VC round will enable more deals for its novel AAV platform; Eikon pioneers new drug discovery technology. Also, Treeline’s early funding revealed at $211.7m; Capsida raised $140m from a VC round, AbbVie deal; and Affinia closed a $110m series B round. 

Finance Watch

Dyno Therapeutics, Inc. came out of stealth mode a year ago with $9m in seed funding it raised in 2018 and partnerships with Novartis AG and Sarepta Therapeutics, Inc. worth more than $2bn in upfront, research and milestone fees to create novel adeno-associated viral (AAV) vectors for the delivery of gene therapies. The seed money and upfront fees were expected to fund development of Dyno’s CapsidMap platform for a few years, but the company unveiled a $100m series A venture capital round on 6 May to further accelerate its use of artificial intelligence to design novel AAV vectors.

[Sidebar#SC142209]

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Finance Watch

Scrip-Business (Free-1): Top-Selling Drugs 2024: Keytruda, Ozempic And Dupixent Dominate

 
• By Nabil

Merck’s immuno-oncology blockbuster was the world’s best-selling drugs by revenues for the second year in a row, with an almost $12bn lead over its closest rival, Novo Nordisk’s GLP-1 drug Ozempic.

Finance Watch: More Than $4.2bn Raised Across Four New VC Funds

 
• By Mandy Jackson

Private Company Edition: ARCH raised more than $3bn for its eighth fund, Frazier added $630m to its public fund that also can back crossover rounds, DCVC’s third biotech fund totaled $400m and Asabys raised €180m ($200m) for its second fund. Also, Aktis closed a $175m series B round.

Finance Watch: GondolaBio, BridgeBio’s Second Spinout Of 2024, Launches With $300m

 
• By Mandy Jackson

BridgeBio spun out oncology assets in May to focus on rare diseases and now it has sliced off a few rare disease candidates for GondolaBio. Also, Avidity and Kymera closed follow-on offerings that grossed $345.1m and $225m, respectively, and Vandria extended its series A round to $30.7m.

Finance Watch: Lykos Implements 75% Workforce Reduction After FDA Rejection

 
• By Mandy Jackson

Restructuring Edition: Lykos recruited a J&J veteran to help its slimmed-down staff resubmit its MDMA-based PTSD therapy. Also, Lexicon cut its field force by 50%, or 75 jobs; Viracta cut its solid tumor program and 23% of its workforce; and Boundless Bio streamlined with moderate job cuts.

More from Financing

Finance Watch: More Than $4.2bn Raised Across Four New VC Funds

 
• By Mandy Jackson

Private Company Edition: ARCH raised more than $3bn for its eighth fund, Frazier added $630m to its public fund that also can back crossover rounds, DCVC’s third biotech fund totaled $400m and Asabys raised €180m ($200m) for its second fund. Also, Aktis closed a $175m series B round.

Pentixapharm Poised To Make A Splash In The Radiopharmaceuticals Pool

 
• By Kevin Grogan

The German group is spinning off from Eckert & Ziegler and listing in Frankfurt, though a leap to the NASDAQ will likely follow once it has more data on a lymphoma theranostic.

MBX, Zenas And Bicara IPOs Generate Big First Day Returns, But Will They Last?

 
• By Mandy Jackson

MBX, Zenas and Bicara delivered positive returns in their first days of trading, but that has not always translated to good long-term results for drug developers that launched US IPOs this year.