June 3 Quick Takes: venBio’s new $550M fund, plus Innovent-AnHeart, Ajax, Scynexis and more
Just 15 months after closing its $394 million third fund, venBio has completed its $550 million Global Strategic Fund IV, a vehicle designed to invest in 12-15 start-ups and in some cases provide further funding in crossover rounds and IPOs. LPs include pension funds, financial institutions, university endowments and foundations, family offices and funds-of-funds. The firm also promoted Richard Gaster to managing partner; he will invest the fund alongside managing partners Corey Goodman, Robert Adelson and Aaron Royston.
AnHeart Therapeutics Inc. has found a second commercialization partner for lead therapy taletrectinib in Innovent Biologics Inc. (HKEX:1801), which will market the tyrosine kinase inhibitor targeting ROS1 and NTRK in mainland China, Hong Kong, Macao and Taiwan. AnHeart is eligible to receive $189 million in an upfront payment, R&D fees and milestone payments, plus tiered royalties. NewG Lab Pharma Inc. gained Korean rights last year to the therapy, which is in Phase II testing for TKI-naïve and second-line treatment of TKI-pretreated ROS1-positive non-small cell lung cancer (NSCLC) and NTRK-positive solid tumors...