Pivotal Life Sciences related stories
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Karuna Therapeutics raises $68 mlnKaruna Therapeutics Inc said March 18 that it raised a $68 million Series B round led by ARCH Venture Partners. Participating in the round were Fidelity Management & Research Co, Eventide Asset Management, Pivotal bioVenture Partners, Partner Fund Management, Wellcome Trust, Sands Capital, Alexandria Venture Investments, and founder PureTech Health. Karuna focuses on targeting muscarinic cholinergic receptors for the treatment of neuropsychiatric disorders including psychosis in schizophrenia, psychosis in Alzheimer’s disease, and pain. Karuna, with the $68 million round, plans to issue $5 million in shares upon conversion of debt into equity.
- Oculis nets about $15.6 mln
Oculis, a Swiss developer of ophthalmic drugs, has raised CHF 15.5 million (about $15.6 million) in funding. Tekla Capital Management LLC led the round with participation from other investors that included Nan Fung Life Sciences.
- VC-backed Entasis Therapeutics debuts IPO
Waltham, Massachusetts-based Entasis Therapeutics, a biopharmaceutical company focused on developing new antibacterial products, has raised about $75 million for its IPO after pricing its 5 million shares at $15 per share. The stock began trading September 26, 2018 on the NASDAQ under the ticker symbol "ETTX." Credit Suisse and BMO Capital Markets are the lead underwriters. Entasis' pre-IPO backers include Pivotal bioVenture Partners, Sofinnova Ventures and TPG Biotech.
- Frazier hires EIR and senior associate
Frazier Healthcare Partners has named Dr. Tracy Saxton as an entrepreneur-in-residence and Vanessa Bhark as a senior associate. Saxton is the founder and CEO of Aucupo Biosciences while Bhark previously worked in corporate development at Gilead Sciences.
- Pivotal bioVenture Partners recruits Preston as managing partner
Pivotal bioVenture Partners, a life sciences venture firm, has appointed Dr. Heather Preston as a managing partner. Previously, Preston worked at TPG Biotech where she was a firm partner and managing director. Pivotal is backed by the Nan Fung Group.
- Pivotal China wraps up initial fund at $150 mln
Pivotal China has closed its inaugural fund at $150 million. Pivotal bioVenture Partners China USD Fund I will focus on incubating and building life sciences companies in China.
- Oculis nabs $20.3 mln Series B
Oculis, a Swiss developer of ophthalmic drugs, has raised $20.3 million in Series B funding. The investors included Bay City Capital, Novartis Venture Fund, Pivotal bioVenture Partners, Brunnur Ventures and Silfurberg.
- SutroVax rakes in $60 mln Series B
Foster City, California-based SutroVax, a biopharmaceutical vaccine company, has secured $60 million Series B financing. Frazier Healthcare Partners and Pivotal bioVenture Partners led the round with participation from other backers that included Abingworth, Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. In addition to the funding, Patrick Heron and Tracy Saxton have been appointed to SutroVax's board of directors.