Oct. 13 Quick Takes: Epic $168M round for Glick’s Odyssey
Plus Dice raises $300M on back of data, Liu’s Prime Medicine seeking $1.6B valuation, and updates from VectivBio, CSPC, Relmada and more
Launched last year by serial entrepreneur Gary Glick, Odyssey Therapeutics Inc. has added $168 million in series B funding to its balance sheet, building on a $218 million round in announced in December 2021. Odyssey has not yet named any drug candidates, but hopes to draw on a team of drug hunters’ expertise and discover therapies for oncology and inflammation using established modalities including small molecules and protein therapeutics. General Catalyst led the new round; also participating were Fidelity Management & Research Co., affiliates of T. Rowe Price, GreatPoint Ventures, Catalio Capital Management, Walleye Capital, Alexandria Venture Investments, The Healthcare Innovation Investment Fund LLC, an investment fund associated with SVB Securities, and all of the start-up’s series A investors. Glick founded IFM Therapeutics Inc., its post-acquisition spinout IFM Therapeutics LLC and multiple asset-focused descendants.
Dice Therapeutics Inc. (NASDAQ:DICE) raised $300 million in an upsized follow-on through the sale of 8.2 million shares at $36.50 on the heels of positive psoriasis data for the biotech’s oral small molecule against IL-17. The deal price is a 9% discount to Dice’s close of $40 on Tuesday, before it proposed to raise $250 million in the offering...