California Biotech Funding in July 2019


Written by:
Sean Cannon

Welcome to the newest instalment of Flagged Events: Funding segment. We’ll cover a sample of the drug companies with funding announcements in the previous month across different global markets. These include IPO announcements, grants, royalty payments, investments, and more. 


Here are some of the pharma/biotech companies headquartered in California that announced funding activity:

Public Offerings

RAPT Therapeutics

On July 5, as per a submitted SEC Form S-1, RAPT Therapeutics announced a planned initial public offering in the United States.  The amounts and date are undetermined at the time of writing. RAPT also set the terms for their $75 million IPO on July 22, and will offer 5 million common shares at $14 - 16 per share, which will trade under the symbol RAPT.

City: San Francisco

Website: https://www.rapt.com/

Primary Therapeutic Area: Oncology

Preclinical Activity in the past 12 months: Yes


Have a Zymewire account? Click here to view RAPT’s global activity!

Sunesis Pharmaceuticals ($SNSS)

Sunesis announced a proposed offering of common and non-voting Series F convertible preferred stock on July 10. Further details were released the following day, with the 33,333,667 common shares, and 8,333 preferred stock shares being priced at approximately $25 million ($0.60/common stock share and $600/Series F Stock). The 30 day option to purchase an additional 5 million shares was also underwritten, with an expected close date set for July 15th.

City: San Francisco

Website: https://www.sunesis.com/

Primary Therapeutic Area: Oncology

Preclinical Activity in the past 12 months: Yes


Have a Zymewire account? Click here to view Sunesis’ global activity!


Collaborations & Royalty Payments

ImaginAb Inc.

Clinical stage ImaginAb announced a non-exclusive license and collaboration agreement with Swiss giant, Roche ($ROG) on July 9. The terms of the deal have yet to be disclosed, but Roche will utilize ImaginAb’s CD8 T - cell imaging agent in trials for the development of immunotherapies targeting multiple cancer types.

City: Inglewood

Website: http://www.imaginab.com

Primary Therapeutic Area: Oncology

Preclinical Activity in the past 12 months: No


Have a Zymewire account? Click here to view ImaginAB’s global activity!


CytomX Therapeutics ($CTMX)

Also on July 9, CytomX announced the second target selection in a 2016 collaborative agreement with AbbVie ($ABBV) for the development of Probody drug conjugates (PDC’s). This milestone results in a $10 million payment to CytomX. The partners will also advance another PDC candidate of CytomX’s, CX-2029, which is currently in Phase 1 / 2 (NCT03543813), targeting CD71. CX-2029 is currently being evaluated in patients with metastatic or locally advanced unresectable solid tumors or diffuse large B-cell lymphoma.

City: San Francisco

Website: https://cytomx.com/

Primary Therapeutic Area: Oncology

Preclinical Activity in the past 12 months: Yes


Have a Zymewire account? Click here to view CytomX’s global activity!

Grants

Synergys Biotherapeutics

Synergys received a Phase 1 SBIR grant payment from the National Institutes of Health for the development of an anti-HER2 antibody fusion candidate for the treatment of ovarian cancer.

City: Walnut Creek

Website: https://www.synergysbio.com/

Primary Therapeutic Area: Oncology

Preclinical Activity in the past 12 months: No


Have a Zymewire account? Click here to view Synergys’ global activity!


Virogenics

Virogenics received a Phase 2 SBIR grant payment of $967 956 from the National Institute of Allergy and Infectious Disease.

City: Del Mar

Website: No working website available (http://www.virogenicsinc.com/)

Primary Therapeutic Area: CNS

Preclinical Activity in the past 12 months: No


Have a Zymewire account? Click here to view Virogenics’ global activity!


Investment and Other Financing

NovaBay Pharmaceuticals ($NBY)

SEC Form D records indicate the receipt of $2.4 million equity financing between June 26 and July 3, which is the entirety of the original offering.

City: Emeryville

Website: https://novabay.com/

Primary Therapeutic Area: Ophthalmology

Preclinical Activity in the past 12 months: No


Have a Zymewire account? Click here to view NovaBay’s global activity!


MedaRed Inc.

On July 8, MedaRed announced the completion of $6.5 million in seed financing, with the round being led by the Dementia Discovery Fund and Dolby Family Ventures.

City: San Francisco

Website: No working website available

Primary Therapeutic Area: CNS

Preclinical Activity in the past 12 months: No


Have a Zymewire account? Click here to view MedaRed’s global activity!

Get the whole picture

If you’d like to track funding activities across the regions that matter to you, all without relying on a database, Zymewire is here to help. Put your prospecting and sales research on autopilot so that you can quickly identify and prioritize new opportunities. Reach out today, and stay tuned for the next instalment of Flagged Events: Funding. If you enjoy these articles, please feel free to give them a share through the social links below!



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