Top news of the week: 25.10.2022.
Prime Medicine raises $175M in one of the year’s largest biotech IPOs
The gene editing startup is one of less than two dozen biotech companies to debut on Wall Street this year, as the pace of IPOs remains far off last year’s trajectory.
AGTC yields to biotech downturn with gene therapy buyout deal
The biotech is the latest in a growing list of genetic medicine developers to sell themselves near record stock lows amid a challenging funding environment.
19 top venture capitalists to know that invest in AI and machine-learning startups like Hugging Face and Databricks
These top VCs are investing in major AI startups, and looking for founders with technical expertise and scalable solutions for data management.
Verge Genomics’ Alice Zhang on a young biotech founder’s ‘superpower’ and going from target to drug
“Every struggle that I've had has woven a sense of persistence into my DNA,” said Zhang, in a wide-ranging interview about leading a biotech startup as a young CEO.
AbbVie to buy UK biotech DJS for $255M
The deal gives AbbVie an experimental medicine for idiopathic pulmonary fibrosis, as well as a platform for designing antibody drugs that can target proteins known as GPCRs.
A startup plans an IPO to give a shelved Lilly drug another shot
Acrivon Therapeutics is looking to fund a development approach it claims could improve the prospects of a cancer drug Lilly scrapped after testing it in clinical trials.
Biotech Startup Orionis Gets $55 Million for Cancer Trials
Orionis is developing drugs designed to spark activity in various types of immune cells. The new venture capital comes from investors including Cormorant Asset Management and Novartis.
IPO Raises $175M for Prime, Developer of “Search and Replace” Gene Editing Platform
Prime Medicine, the developer of a “search and replace” gene editing platform, has launched an upsized initial public offering that raised $175 million in gross proceeds.