Aledade has raised $30 million in funding. ARCH Venture Partners led the round with participation from Venrock. Based in Bethesda, Maryland, Aledade helps doctors form and operate accountable care organizations. To read the post, visit here.
Denali Therapeutics Inc, a developer of treatments for neurodegenerative diseases, has launched with a $217 million investment commitment. The investors include Fidelity Biosciences, ARCH Venture Partners, Flagship Ventures and the Alaska Permanent Fund.
San Mateo, California-based vision processor company Movidius has secured $40 million in funding. Summit Bridge Capital, a joint venture between Atlantic Bridge Capital and WestSummit Capital, led the round with other investors that included ARCH Venture Partners, Sunny Optical Technology Group, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital. In addition to the funding, David Lam of WestSummit Capital has been appointed to Movidius’ board of directors.
Cambridge, Massachusetts-based Semma Therapeutics, a developer of cell therapy for Type 1 diabetes, has secured $44 million in Series A funding. MPM Capital led the round with participation from Fidelity Biosciences, ARCH Venture Partners and Medtronic. Also, the company has named Stephen Oesterle, senior vice president for medicine and technology at Medtronic, as a board observer.
La Jolla, California-based Kura Oncology Inc, a biopharmaceutical company focused on treating solid tumors and blood cancers, has raised $60 million in a private placement. EcoR1 Capital was the lead investor. Other investors included Fidelity Management & Research Company, ARCH Venture Partners, Tavistock Life Science’s Boxer Capital, Partner Fund Management and Nextech Invest. Leerink Partners LLC was lead placement agent while National Securities Corp and Livingston Securities LLC were co-placement agents for the private placement.
Chiasma Inc has received $70 million in Series E financing. The investors included Rock Springs Capital, Sofinnova Ventures, MPM Capital, F2 Capital, 7 Med Health Ventures, Abingworth and ARCH Venture Partners. Headquartered in Newton, Massachusetts and Jerusalem, Chiasma is a biopharmaceutical firm focused on treating acromegaly.
Juno Therapeutics has debuted its IPO after pricing its over 11 million shares at $24 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “JUNO.” Morgan Stanley, J.P. Morgan Securities and Goldman Sachs are the lead underwriters. Based in Seattle, Juno is a biotech company focused on developing immunotherapies for cancer. Its backers include Bezos Expeditions, Venrock, ARCH Venture Partners and the Alaska Permanent Fund.
Watertown, Mass.-based Syros Pharmaceuticals, which focuses on treating cancer and other diseases, has raised $53 million in Series B funding.
Investors back big rounds for therapy and tool developers.
Life science startups raise big rounds quickly, as cancer-fighting Juno collects $300 million in under a year.
Chicago-based Arch Venture Partners raised a $400 million fund to invest in early stage companies, the firm announced Wednesday, underscoring renewed investor confidence in the once moribund life sciences sector.
The human brain may be complicated, but more VCs are finding it easy to back drug developers focused on neurological conditions
Accelerator Corp. said Tuesday that it has raised $51.1 million in the first close of its fourth fund. The pool’s investors include Alexandria Venture Investments, ARCH Venture Partners, WRF Capital, Eli Lilly, Harris & Harris Group, Johnson & Johnson Development Corp., The Partnership Fund for New York City and Pfizer Venture Investments. Based in Seattle and New York City, Accelerator Corp is a biotech investment firm.
Sorbent Therapeutics, a Sunnyvale, Calif.-based biopharmaceutical firm focused on treating cardiovascular and renal diseases, has added Jay Shepard and William D. Waddill to its board of directors. Shepard is an executive partner at Sofinnova Ventures while Waddill is the senior vice president and chief financial officer at Calithera Biosciences. Sorbent’s backers include CMEA Capital, ARCH Venture Partners, Sofinnova Ventures, AgeChem and Novartis Venture Funds.
Syros Pharmaceuticals said Tuesday that it has hired Jorge Conde as chief financial officer and chief product officer. Previously, Conde was the co-founder and CFO of Knome. Based in Watertown, Mass., Syros is focused on treating cancer and other diseases. It is backed by Flagship Ventures and ARCH Venture Partners.
Siluria Technologies has promoted Rahul Iyer to vice president of corporate development and Gary Koehler to vice president of operations. Siluria is a company that converts natural gas into chemicals and fuels. It is backed by ARCH Venture Partners, The Wellcome Trust, Alloy Ventures, Kleiner Perkins Caufield & Byers, Bright Capital, Altitude Life Science Ventures, Lux Capital and Vulcan Capital.
Twist Bioscience said Tuesday that it has raised $26 million in Series B financing. Tao Invest led the round with participation from other investors that included ARCH Venture Partners and Paladin Capital Group. Also, the company has received a $5.1 million contract from DARPA. Based in San Francisco, Twist Bioscience produces synthetic DNA.
Sorbent Therapeutics, a Sunnyvale, Calif.-based biopharmaceutical firm focused on treating cardiovascular and renal diseases, has closed a $6.5 million tranche in a $15 million Series D financing. The investors were CMEA Capital, ARCH Venture Partners, Sofinnova Ventures, AgeChem and Novartis Venture Funds.