Jan. 6 Quick Takes: Nextech leads $85M A round for molecular glue newco Ambagon
Plus: Odyssey builds out tool kit and updates from Amgen-Generate, Verily-Sosei, TRexBio-Janssen, Sutro, Sanofi and more
San Carlos’ AmbAgon Therapeutics Inc. launched Thursday with $85 million in series A financing to develop molecular glue stabilizers of intrinsically disordered proteins, starting with cancer targets. Nextech Invest led the round, with participation from seed investors RA Capital Management, Droia Ventures, INKEF Capital, AbbVie Ventures, MRL Ventures Fund and Mission BioCapital. Surveyor Capital joined as a new investor.
Weeks after revealing its $218 million series A round, Odyssey Therapeutics Inc. has acquired quantum machine learning company Rahko to identify promising leads for the targets it is aiming to modulate. A syndicate led by OrbiMed Advisors and co-led by SR One Capital Management backed Odyssey, whose CEO is serial entrepreneur Gary Glick...