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Muna Therapeutics Raises $73 Million to Advance Neurodegenerative Disease Focus

Published: Jul 09, 2021
By Brandon May
Muna Therapeutics, a private Denmark- and Belgium-based biopharmaceutical company founded in 2020,
officially closed a $73 million Series A financing round. The company launches with the new funding to advance its focus on first-in-class small molecule therapies for neurodegenerative diseases.
The Series A financing was led by Novo Holdings in conjunction with Sofinnova Partners, DROIA Ventures and LSP Dementia Fund. Additional investors who joined the financing round included Polaris Partners, Polaris Innovation Fund, Sanofi Ventures, V-Bio Ventures and VIB.
Muna’s primary focus—neurodegenerative diseases—lead to disability and death of millions of people worldwide. There are currently no curative therapies available for many neurodegenerative conditions, a problem Muna hopes to address.

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Third Rock-Seeded Abata Aims Tregs, $95 Million at Autoimmune Diseases

Third Rock-Seeded Abata Aims Tregs, $95 Million at Autoimmune Diseases
biospace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospace.com Daily Mail and Mail on Sunday newspapers.

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Funding News: Three Biopharmas Score a Combined $261 Million to Advance Pipelines

Published: May 18, 2021
By Alex Keown
Three companies on three separate continents raised more than $250 million to advance their scientific visions of supporting and developing new therapies for life-threatening diseases.
Hummingbird Bioscience Raises $125 Million
Singapore-based
raised $125 million in an oversubscribed Series C financing round. The funds will be used to support the development of the company’s two lead programs and advance its early-stage clinical research.
Hummingbird’s two lead assets are HMBD-001, a best-in-class HER3 antibody for NRG1-fusion and HER3-driven tumors, and HMBD-002, a first-in-class anti-VISTA neutralizing antibody for advanced solid tumors.
The funds will also be used to expand the capabilities of Hummingbird's proprietary Rational Antibody Discovery platform and progress the development of its next-generation pipeline of precision therapeutics, including HMBD-009, a BCMA-TACI dual-specific T cell engager.

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Q1 2021: A Look at Biopharma's Top 25 Companies by Market Cap

AbbVie announced Q1 results on April 30 that chairman and chief executive officer, Richard A. Gonzalez,
described as “ahead of our expectations.” Blockbuster drug, Humira, led the way with global net revenues of $4.867 billion. The company recently took a hit as the suddenly cautious FDA
extended its review of JAK inhibitor, Rinvoq (upadacitinib) for atopic dermatitis, requesting an updated assessment of its benefit-risk profile. This follows the news of a
delay in the approval of Rinvoq for psoriatic arthritis. Rinvoq, which brought in $303 million globally this quarter, is one of the drugs AbbVie is
counting onto allay the loss when patent protection for Humira expires in 2023.

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