With biotech funding at âall-time high,â Scorpion scoops up $162 million
By Anissa Gardizy Globe Staff,Updated January 7, 2021, 7:00 a.m.
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Just over two months after announcing its debut with $108 million in funding, Boston startup
Scorpion Therapeutics said Thursday it has raised an even larger amount of venture capital.
Scorpion, which focuses on âprecision medicineâ for cancer, said it has completed a $162 million funding round, bringing the biotechâs total venture haul to about $270 million. Itâs a large amount for a new company that so far has kept much of its work under wraps, and a sign that the regionâs early-stage biotech industry is vibrant, despite the pandemic.
Biotech entrepreneur John Hood Hood said he believes a drug known as taladegib can be used to treat interstitial pulmonary fibrosis.
Endeavor BioMedicines
John Hood is at it again.
In 2016, Hood started a company, Impact BioMedicines, around a medicine that had been abandoned by the drug giant Sanofi. Impact raised $22 million in October 2017, and then was purchased in January 2018 by Celgene for more than $2 billion. Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED
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Omega Fund Management’s special purpose acquisition corporation, Omega Alpha SPAC, announced the pricing of its initial public offering of 12,000,000 Class A ordinary shares, par value $0.0001,.
Endeavor BioMedicines raises $62 million to combat pulmonary disease
A new startup has officially emerged from stealth with the raise of its $62 million Series A funding round. Endeavor BioMedicines is led by co-founder and CEO John Hood, who previously led Impact Biomedicines, and its new funding comes from Omega Funds and Longitude Capital, as well as the company’s own management team. Endeavor is also co-founded by Miguel de los Rios, who serves as its chief science officer and who was previously CEO of Rift Biotherapeutics.
Endeavor’s goal is to develop treatments specifically to address pulmonary disease, and the startup is putting its funding toward two phase 2 clinical trials that will seek to determine whether their therapeutic candidate can reverse or slow the progression of idiopathic pulmonary fibrosis (IPF), a very common type of pulmonary fibrosis that results in long tissue scarring that causes difficulty in breathing for affected patients.
Mission Wealth Names Four New Partners to Firm in 2021
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Mission Wealth is pleased to announce the addition of four new partners to the firm: Jenna Rogers, Renee Hennessee, Ryan Niedbalski, and Jeff Avila. Expanding equity ownership within the firm remains central to our team philosophy because it reflects our desire to serve the needs of our clients across future generations and is also key for employee attraction and retention. We are thrilled with the addition of these new partners to our owner group and are eager to continue the expansion of the partnership group each year.
We are excited to welcome four new partners to the firm, bringing our grand total to fifteen and helping us ensure that we have expanded leadership to steward the firm for many years to come.