VC and Investment
Biotechnology
US biotech major Moderna plans to raise $2 billion through a private placement of convertible senior notes due 2032, offered to qualified institutional buyers under Rule 144A. Initial purchasers will get a 13-day option to take up to $300 million of additional notes, which would lift the total to $2.3 billion. 28 August 2026
Today's issue
Refine search
Biotechnology
US biotech Dianthus Therapeutics saw its shares leap 21.5% to $79.23 yesterday, after it announced that it has commenced an underwritten public offering of $400 million of shares of its common stock or, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. 10 March 2026
Biotechnology
Cambridge, USA-based precision allosteric therapeutics biotech Atavistik Bio has announced the closing of a $40 million extension to its Series B financing from new investor RA Capital Management, bringing the total round proceeds to $160 million. 6 March 2026
Biotechnology
Chinese cell therapy developer Lemang Biotech has raised nearly 200 million yuan ($28 million) in fresh financing to advance clinical development of its metabolism-enhanced CAR-T therapies and scale up manufacturing. 5 March 2026
Biotechnology
US biotech Prolium Bioscience has announced its launch with a $50 million Series A financing to develop PRO-203, a potential best-in-class CD20xCD3 T-cell engager, for severe autoimmune disease. 4 March 2026
Biotechnology
US biotechnology company Candid Therapeutics will go public through a reverse merger with US rare disease drugmaker Rallybio, creating a Nasdaq-listed company focused on T-cell engager therapies for autoimmune diseases. 4 March 2026
Biotechnology
US biotech Generate Biomedicines raised $400 million in its initial public offering, selling 25 million shares at $16 each, the midpoint of its range. It marks the largest biotech IPO so far this year and signals a tentative reopening of the sector’s capital markets. 2 March 2026
Pharmaceutical
UK-Hungarian virtual biology company Turbine has secured $25 million in a series B financing, broadened its platform beyond oncology and struck a new immunology collaboration with a top 10 pharma group. 26 February 2026
Biotechnology
US biotech Generate Biomedicines has set terms for a proposed Nasdaq listing that could raise up to $425 million, as it moves to finance two Phase III asthma trials for its lead antibody. The company plans to offer 25 million shares at $15 to $17 each. 25 February 2026
Biotechnology
US biotech Slate Medicines has launched with $130 million in series A funding to advance an experimental migraine antibody licensed from China-based DartsBio Pharmaceuticals into the clinic next year. 25 February 2026
Biotechnology
Last week, USA-based biotech Candel Therapeutics,, which is focused on developing multimodal biological immunotherapies to help patients fight cancer, announced the pricing of an underwritten public offering of 18,348,624 shares of its common stock at a price to the public of $5.45 per share. 23 February 2026
Pharmaceutical
Atlanta, USA-based clinical-stage pharmaceutical company Altesa BioSciences has announced a $75 million oversubscribed Series B funding round led by Forbion, with participation from French pharma major Sanofi and Altesa's existing investors, including Medicxi, Pitango, and Atlantic Partners. 20 February 2026
Biotechnology
USA based Korsana Biosciences, which is developing novel therapies to reduce the burden of neurodegenerative diseases, today announced its emergence from stealth, with backing from a leading syndicate of healthcare investors. 18 February 2026
Biotechnology
US late-stage biotech Immunic yesterday announced the closing of its private placement financing. 18 February 2026
Pharmaceutical
Italy headquartered Newron Pharmaceuticals late Monday announced that it has entered into an agreement for the subscription of newly issued shares for proceeds of up to 38 million euros ($45 million) with a group of existing and new shareholders from Europe and Asia, strengthening the company’s financial position as it advances the ENIGMA-TRS Phase III program for evenamide. 17 February 2026
Biotechnology
US clinical-stage biotech Evommune has entered into a securities purchase agreement to sell 4,494,279 shares of its common stock to a select group of new and existing mutual funds and dedicated healthcare institutional investors in a private placement. 16 February 2026
Biotechnology
US late-stage biotech Immunic, which is developing novel oral therapies for neurologic and gastrointestinal diseases, today announced the pricing of a private placement with gross proceeds of up to $400 million priced at the market under Nasdaq rules. 13 February 2026
Biotechnology
Swedish biotech Neogap Therapeutics, which is developing personalized cancer immunotherapy using the patient’s own cells, has raised 87 million Swedish kronor ($9.8 million) in a financing round led by Nordic investment company Sciety. 11 February 2026
Biotechnology
US biotech ILiAD Biotechnologies has closed an oversubscribed $115 million series B financing to advance BPZE1, its intranasal pertussis vaccine, into a pivotal human challenge trial. 11 February 2026
Pharmaceutical
QuantX Biosciences has announced the close of an oversubscribed $85 million Series B financing co-led by LAV and Sanofi Ventures. 10 February 2026
Biotechnology
Immuno-oncology and inflammation startup Kainova Therapeutics has announced the successful first close of its Series B financing round totaling $32 million CAD ($23.6 million). 10 February 2026
Pharmaceutical
US clinical-stage biopharma Sling Therapeutics today announced the close of a $123 million Series C financing. The proceeds will support the continued clinical advancement of linsitinib, an oral small molecule inhibitor of IGF-1R (insulin-like growth factor 1 receptor), a validated target for the treatment of thyroid eye disease (TED). 16 September 2026
Biotechnology
California-based biotech company RegCell has closed $66 million in new funding, made up of a $44 million series A led by Playground Global and a further 3.4 billion yen ($22 million) in non-dilutive money from Japan's Agency for Medical Research and Development (AMED). The company said on Tuesday the cash will carry its regulatory T cell platform into clinical development across several autoimmune diseases. 16 September 2026
Generics
Swiss generics and biosimilars company Sandoz has issued a 500 million euros ($585 million) bond with a 12-year maturity and a 4.835% coupon, with proceeds earmarked for general corporate purposes including refinancing existing debt. 15 September 2026
Biotechnology
Electra Therapeutics, a South San Francisco biotech company, has set terms for its stock market debut, proposing to sell 21.7 million shares at between $14 and $16 each. At the $15 midpoint the offering would raise about $325 million and value the business at roughly $916 million. 15 September 2026
Biotechnology
Privately-held US immuno-oncology firm Shennon Biotechnologies has raised $12 million in a financing round from Future Ventures, NextGen Venture Partners, Samos Investments, Atypical Ventures and Saras Capital, with participation from existing investors DCVC, Foundation Capital and AV8 Ventures. 14 September 2026
Pharmaceutical
Swiss pharma major Novartis is under public pressure to overhaul its board after two late-stage trial failures in the space of a few days triggered the steepest share price fall in the company's history. David Samra, managing director at USA-based fund manager Artisan Partners, told Reuters on Thursday that the board needs far stronger oversight of acquisitions. 11 September 2026
Biotechnology
USA-based Solstice Oncology has launched with a $225 million Series A financing to advance porustobart, a second-generation, Fc-enhanced CTLA-4 antibody, into neoadjuvant treatment of colon cancer. 10 September 2026
Pharmaceutical
US biotech company TwoStep Therapeutics has secured Food and Drug Administration (FDA) clearance to begin human testing of its lead cancer candidate, TS-104, alongside an oversubscribed $62.5 million series A financing. The San Carlos, California-based firm said patient enrollment in a first-in-human Phase I trial should begin before the end of the year. 10 September 2026
Biotechnology
US biotech company Encoded Therapeutics has closed a $275 million series F financing that will fund pivotal testing of ETX101, a gene therapy for Dravet syndrome, a severe form of childhood epilepsy. The privately held South San Francisco firm announced the round on Wednesday, days after presenting updated trial data at the European Epilepsy Congress. 10 September 2026
Biotechnology
US biotech Moonwalk Biosciences, which is developing first-in-class adipose-targeted RNA interference (RNAi) medicines for obesity and cardiometabolic diseases, today announced the closing of an oversubscribed $70 million Series B financing. 8 September 2026
Biotechnology
US clinical-stage biotech PDS Biotechnology saw its shares rocket 183% to $0.62 today, after it announced it has raised up to $22.55 million in equity funding in a Private Investment in Public Equity (PIPE) transaction. 8 September 2026
Pharmaceutical
The global pharmaceutical industry has committed an additional £2 billion ($2.70 billion) to the UK since September 2025, according to the Association of the British Pharmaceutical Industry (ABPI), which benchmarks the country against 12 leading markets on more than 40 international metrics in its 2026 competitiveness report. 8 September 2026
Biotechnology
USA-based biotech Superluminal Medicines has closed an oversubscribed $60 million series B, money earmarked for moving its lead obesity candidate into human testing before the end of 2026. The round was led by BVF Partners, with Deep Track Capital and Perceptive Advisors joining as first-time backers. 4 September 2026
Biotechnology
USA-based biotech company Typewriter Therapeutics, which also runs a Japanese arm, came out of stealth on Wednesday with $56 million in series A financing. The round was led by US venture firm AN Venture Partners and US investment firm RA Capital Management, with Japanese venture firm ANRI, Gemseki and SBI US Gateway Fund also taking part. 3 September 2026
Pharmaceutical
The USA's Advanced Research Projects Agency for Health (ARPA-H) has selected five teams to build the equipment needed to make individualized RNA medicines close to the patient, awarding contracts worth up to $125 million in research and development funding. 2 September 2026
Biotechnology
French biotech firm Inventiva has appointed Chris Benecchi as chief operating officer, completing its leadership team roughly one quarter before the trial result that will decide the company's direction. Topline data from the pivotal Phase III NATiV3 study of lanifibranor in metabolic dysfunction-associated steatohepatitis (MASH) are expected in the final quarter of 2026. 2 September 2026
Biotechnology
USA-based infectious disease biotech firm EIT Pharma has closed an oversubscribed $35 million series A round, led by Propel Bio Partners with participation from Good Ventures, Arrowtown and others. The Kirkland, Washington company said the money will principally support its lead candidate, the oral chronic hepatitis D therapy lonafarnib. 1 September 2026
Pharmaceutical
US specialty pharma company Quoin Pharmaceuticals on Friday said it has entered into a securities purchase agreement to raise up to approximately $50.0 million in gross proceeds. 29 August 2026
Biotechnology
ProFound Therapeutics, a Flagship Pioneering company based in Cambridge, Massachusetts, has received an investment commitment of up to $35 million from the Gates Foundation, including an initial $20 million payment, to support drug target and biomarker discovery for preeclampsia and eclampsia. 28 August 2026
Biotechnology
US biotech major Moderna plans to raise $2 billion through a private placement of convertible senior notes due 2032, offered to qualified institutional buyers under Rule 144A. Initial purchasers will get a 13-day option to take up to $300 million of additional notes, which would lift the total to $2.3 billion. 28 August 2026
Sign up to receive email updates
Join industry leaders for a daily roundup of biotech & pharma news
Copyright © The Pharma Letter 2026
| Headless Content Management with Blaze