April 26 Quick Takes: Orbital’s $270M A round is year’s largest so far

RNA therapeutics company Orbital Therapeutics Inc. raised $270 million in the largest series A round thus far in 2023, according to BioCentury’s BCIQ database. Arch Venture Partners was the leader, along with early backers Andreessen Horowitz and Newpath Partners. The start-up is building a toolbox that includes linear RNA manufacturing and lipid nanoparticle technology from Beam Therapeutics Inc. (NASDAQ:BEAM), as well as circular RNA technology and virus-like particles (VLPs) from Stanford University. Also participating were Abu Dhabi Growth Fund, Redmile Group, Exor N.V., Invus, Moore Strategic Ventures, iGlobe Platinum Fund Group, Casdin Capital, Agent Capital, Alexandria Venture Investments, Rellim Capital Management, Heritage Medical Systems and undisclosed others. Former Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) CEO John Maraganore is Orbital’s chairman.

Medicare will cover Leqembi lecanemab-irmb according to the label if and when the Alzheimer's treatment receives full FDA approval, CMS Administrator Chiquita Brooks-LaSure told a congressional committee Wednesday. On June 9, an FDA advisory committee is slated to discuss an application from Eisai Co. Ltd. (Tokyo:4523) and Biogen Inc. (NASDAQ:BIIB) to convert the accelerated approval for Leqembi to full approval. The application has a July 6 PDUFA goal. To receive coverage, patients will have to be enrolled in a registry, Brooks-LaSure said...