Aug. 25 Quick Takes: A slew of private financings led by Connect’s $115M series C; plus BMS- Forbius, Takeda deals, Bio-Thera-BeiGene and adds to HKSE, NASDAQ queues
Connect raises $115M C round, eyes pivotal trials
RA Capital’s Derek DiRocco will join the board of Suzhou Connect Biopharmaceuticals Ltd. after the firm led the Chinese biotech’s $115 million series C round. Additional new investors Lilly Asia Ventures, Boxer Capital and HBM Healthcare Investments participated in the round, as did existing investor Qiming Venture Partners. Connect plans to use the funds to start Phase III trials of CBP-201, an anti-IL-4R mAb to treat atopic dermatitis, and CBP-307, an S1PR1 agonist for ulcerative colitis.
Prelude, DiscGenics secure $50M C rounds
Prelude Therapeutics Inc. raised $50 million in a series C round led by OrbiMed Advisors and an undisclosed existing investor, with participation from new investor Fidelity Management & Research Co. The biotech is developing a portfolio of PRT543 and MCL1 inhibitors to treat cancer. ...