by Chantal Allam, NCBiotech writer May 13, 2021 .
RESEARCH TRIANGLE PARK – Tellus Therapeutics is pushing ahead with developing its neonatal brain injury treatment after landing crucial seed funding this week.
The Durham-based biotech company focused on neonatal health announced that it had secured an undisclosed sum from Boston-based Xontogeny to advance its lead TT-20 program.
The program targets diffuse white matter injury (DWMI) in preterm infants less than 32 weeks gestational age.
Tellus
“We are excited to team up with Tellus to support them in pursuing their mission to provide a treatment for every baby born at risk for brain injury and improve neurodevelopmental outcomes for affected children,” said Xontogeny’s founder and CEO Chris Garabedian.
Perceptive Advisors closes $515M fund to fuel more early-stage biotech startups
Perceptive Advisors closes $515M fund to fuel more early-stage biotech startups
Perceptive Advisors has $515 million for its second fund investing in biotech startups. Portfolio Manager Chris Garabedian says Perceptive Xontogeny Ventures Fund II is looking to make Series A investments in early-stage companies with assets that can show a path to clinical testing.
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When Chris Garabedian set out early last year to raise money for a second Perceptive Advisors fund focused on early-stage biotech startups, it took just a matter of months to draw interest from investors willing to commit more than $1 billion total. The fund could have closed with that much money, maybe more, said Garabedian, the portfolio manager. But it ended up with a little more than half of that, which he described as “the right size.”
- Collaboration with Xontogeny provides funding and key advisory support for early development -MALVERN, Pa. (BUSINESS WIRE) #Cardiovascular Shifa Biomedical Corporation (Shifa), a drug discovery company developing an oral small molecule PCSK9/low density lipoprotein-cholesterol receptor (LDLR) antagonist, P-21,.
Perceptive Advisors, a NYC-based investment management firm focused on the life sciences sector, closed Perceptive Xontogeny Venture Fund II, LP, at $515m, to further its early-stage life sciences platform.
PXV Fund II includes existing investors from the inaugural fund, new investors including top-tier asset managers, endowments, foundations, family offices, and notable individual investors, and all of the PXV Fund II Partners.
The close of PXV Fund II more than triples assets under management to $725m in less than two years since the closing of the inaugural PXV Fund I, which launched Perceptive’s early-stage venture fund strategy.
The PXV Fund strategy complements Perceptive Advisors’ Life Sciences Fund (hedge fund) and Credit Opportunities Funds as it will be solely focused on early-stage venture capital and expects to be the sole or predominant lead investor in Series A financings in the range of $20-40m with capacity to participate in subsequent Series B financings.
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