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It’s been a relatively quiet few years for FogPharma, at least publicly, but now the Cambridge, Massachusetts-based biotech is revealing a major funding round.
The series C has been pumped up to $107 million from a who’s who of venture capitalists. The round was led by venBio Partners with help from new investors Cormorant Asset Management, Farallon Capital Management, Invus, funds and accounts advised by T. Rowe Price Associates Inc., HBM Healthcare Investments, Casdin Capital and PagsGroup.
Existing investors also chipped in, including Google’s GV, 6 Dimensions Capital, Deerfield Management and Blue Pool Capital.
What has them opening their checkbooks? FogPharma’s platform direct beta-catenin antagonist and universal druggability platform. Out of this has come its lead program, a beta-catenin antagonist designed to treat previously undruggable cancers.
Instacart reaches $39 billion valuation with new funding round
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Emerging Europe this week
Central Europe
Polish Prime Minister Mateusz Morawiecki said this week that his government plans to impose a new levy on advertising revenues and use the proceeds to support the national health care system, culture and free media. “This is nothing new and something we agreed upon in the European Union some time ago,” said Mr Morawiecki. The PM said that the levy is intended to create better conditions for the development of free media. “We are dealing with a huge imbalance. Global media corporations dominate and can do so even more through their capital power.” The new tax, which has been fiercely criticised by independent broadcasters and publishers, is expected to take effect from July 1, and could raise up to 800 million zloty (178 million euros) in 2022.
By Reuters Staff
1 Min Read
(Reuters) - UiPath Inc said on Monday it had raised $750 million in a fundraising round that valued the robotic software startup at $35 billion, ahead of a high-profile initial public offering (IPO) later this year.
The round was led by existing investors Alkeon Capital and Coatue, with Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global and funds advised by T. Rowe Price Associates Inc also taking part in the fundraising.
The New York-based startup said in December that it had filed confidentially for an IPO with the U.S. Securities and Exchange Commission (SEC).
Reuters had reported in September that UiPath, which helps companies automate repetitive and routine tasks in areas such as accounting and human resources, was close to hiring banks for its IPO in 2021.
U.S. Mounts a Charge to Take On China, the King of Electric-Vehicle Batteries Source: By Ben Foldy and Rebecca Elliott, Wall Street Journal • Posted: Tuesday, January 26, 2021
Sila Nanotechnologies, a Silicon Valley startup, is among the latest to attract Wall Street backing as supply-chain investors see enthusiasm for electric vehicles
The auto industry’s quickening shift to electric cars is spurring investment in another emerging industry in the U.S.: manufacturing lithium-ion batteries for those vehicles.
China currently dominates the market for producing electric-vehicle batteries. But as auto makers spend billions to build more plug-in models in the U.S., investors are increasing their bets on companies looking to expand the supply chain for batteries and related materials in North America a region that has long relied on imports for such components.
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