RA Capital backs four biotech rounds in September as Novartis shares tumble after trial setbacks
RA Capital Management participated in four biotech financings in September, including Series A rounds for Solstice Oncology and Tectora Therapeutics, as well as co-leading a $56 million round for Typewriter Therapeutics and joining investors for Superluminal Medicines.
The firm's activity follows a broader surge in venture funding, with Eli Lilly also increasing its investments this month, backing companies such as Cloverleaf Bio, Moonwalk Biosciences and a spinout from Kura Oncology.
Meanwhile, Novartis experienced a steep decline in market value after consecutive trial setbacks, contributing to a notable slide in its share price.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “This week in charts: RA’s insatiable appetite, Novartis’ big slide and a reverse merger spree”
read at BioPharma Dive ↗
comments(0)
5-min edit window · permanent after that