Finance, Grants, Deals

Galecto Biotech AB has raised SEK 40 million (€4.5 million) in follow-on funding from its existing investors to progress its portfolio of candidate molecules that modulate galectins, a family of proteins.

Cytos Biotechnology Ltd of Switzerland said that it will seek shareholder approval for a rights issue valued at up to CHF 17.6 million (€14.3 million) in order to take its lead immunotherapy for allergic asthma through Phase 2b proof of concept.

AstraZeneca Plc has selected a microRNA target from a collaboration with California-based Regulus Therapeutics Inc which will be used to develop a new oncology therapeutic. The target is one of three being investigated under a 2012 collaboration between the two companies.

Sygnis AG of Germany has raised gross proceeds of €2.7 million from a rights offering and private placement to support its growth as a service provider of DNA amplification and sequencing products.

 A group of venture capitalists is providing €9.4 million to a new company that will hold exclusive licences to oncology assets originated by F-Star Biotechnology Ltd, a  discoverer of bispecific antibodies. The Series A round is supported by Atlas Venture.

Evotec AG has entered into an agreement with AstraZeneca Plc to explore compounds and targets for the treatment of chronic kidney disease. The agreement involves an undisclosed upfront payment as well as performance-related milestone payments.

Symphogen A/S of Denmark has entered into an alliance with an antibody technology provider in the US to strengthen its therapeutic antibody business which is based on developing antibody mixtures for applications in cancer.

PolyTherics Ltd has become the latest company to announce a collaboration in the antibody-drug conjugate field – a technology that is attracting growing numbers of companies that are developing treatments for cancer.

Immatics Biotechnologies GmbH of Germany has raised €34 million from its existing investors in a Series D financing round, enabling it to conclude development of a therapeutic cancer vaccine intended as a first-line treatment for patients with renal cell carcinoma in combination with the current standard of care, Sutent (sunitinib).

AstraZeneca Plc’s biologics arm, MedImmune, has enlarged its presence in the field of antibody-drug conjugates with the acquisition of Spirogen Ltd, a London-based ADC company for up to $440 million, providing certain milestone targets are met.