Press ESC to close

    Massachusetts Biotech Funding in July 2019

    Share on Social

    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 Massachusetts that announced funding activity:

    Public Offerings

    Morphic Therapeutic ($MORF)

    On July 1, Morphic announced the closing of their initial public offering (Symbol MORF) of 6.9 million common stock shares at $15 per share, totalling $103.5 million.

    City: Waltham

    Website: http://morphictx.com/

    Primary Therapeutic Area: Oncology

    Preclinical Activity in the past 12 months: No


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


    Karuna Therapeutics Inc. ($KRTX)

    On July 2, Karuna also announced the closure of their initial public offering, totalling $102.6 million in gross proceeds for 6,414,842 common stock shares at $16 per share. The shares began trading under the KRTX symbol.

    City: Boston

    Website: https://karunatx.com/

    Primary Therapeutic Area: CNS

    Preclinical Activity in the past 12 months: No


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

    Collaborations & Royalty Payments

    Skyhawk Therapeutics

    On July 8, Waltham’s Skyhawk Therapeutics announced a collaboration agreement with Merck & Co. ($MRK) for the development and commercialization of RNA - binding small molecule candidates that modulate RNA splicing for neurodegenerative and oncologic indications. Exclusive worldwide licensing will be available to Merck, through the use of a subsidiary. Skyhawk will receive an upfront payment for an undisclosed amount, and dependent on Merck’s exercising of option to exclusive licensing, they will also receive potential milestone payments and royalties.

    On July 16, a similar agreement was announced between Skyhawk and Genentech. Skyhawk will receive an unknown upfront payment, as well as future payments and royalties, while Genentech receives the exclusive worldwide license.

    City: Waltham

    Website: https://www.skyhawktx.com/

    Primary Therapeutic Area: Oncology

    Preclinical Activity in the past 12 months: No


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


    Frequency Therapeutics

    On July 17, Frequency announced an exclusive licensing agreement with Astellas Pharma ($TSE: 4503) for the development and commercialization of FX-322, Frequency’s candidate for sensorineural hearing loss. The upfront payment for Frequency is $80 million, with future royalties as well as up to $545 million in milestone payments.

    City: Woburn

    Website: https://www.frequencytx.com/

    Primary Therapeutic Area: Audiology

    Preclinical Activity in the past 12 months: No


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

    Grants

    Akston Biosciences

    Akston received a Phase 2 SBIR grant payment from the National Institutes of Diabetes and Digestive and Kidney Disease for the development of AKS-107, their subcutaneous Type 1 Diabetes candidate for the prevention or delay of diabetes in high risk pre-diabetic patients.

    City: Beverly

    Website: https://www.akstonbio.com/

    Primary Therapeutic Area: Metabolic and Endocrine

    Preclinical Activity in the past 12 months: No


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


    Spero Therapeutics ($SPRO)

    Spero received a $5.9 million award from the United States Department of Defense Congressionally Directed Medical Research Programs to further the development of SPR206, Spero’s intravenous Potentiator Platform for the treatment of MDR Gram-Negative infections in hospitals. The award will be used for a series of pharmacology, toxicology, and microbiological surveillance across the 4 years of non-dilutive funding.

    City: Cambridge

    Website: https://sperotherapeutics.com/

    Primary Therapeutic Area: Infectious Diseases

    Preclinical Activity in the past 12 months: Yes


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

    Investment and Other Financing

    Kiniksa Pharmaceuticals ($KNSA)

    SEC Form D records indicate the receipt of $1.53 million in equity financing between April 4 and July 11.

    City: Lexington

    Website: https://www.kiniksa.com

    Primary Therapeutic Area: Dermatology

    Preclinical Activity in the past 12 months: Yes


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


    Lucy Therapeutics

    SEC Form D records indicate the receipt of $2.91 million in equity financing between June 28 and July 15, towards a total offering of $3.5 million.

    City: Lexington

    Website: https://www.lucytherapeutics.com/

    Primary Therapeutic Area: CNS

    Preclinical Activity in the past 12 months: Yes


    Have a Zymewire account? Click here to view Lucy’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!