ArQule and Daiichi Sankyo Ink c-Met and Discovery Deals

ArQule and Daiichi Sankyo announced that they have entered into two agreements that form the basis of a strategic relationship for the development and discovery of novel oncology therapeutics. One agreement covers the license of ARQ 197 and the other is an R&D agreement.
ARQ 197 is a phase 2 stage, selective inhibitor of c-Met, [...]

Precision Therapeutics Secures $43 Million in VC Funding

Precision Therapeutics has secured $43 million in additional funding to expand the development and commercialization of ChemoFx(R). ChemoFx is a diagnostic test that helps physicians select the most effective chemotherapeutic regimen for cancer patients. New investor, Longitude Venture Partners, L.P., led the round and was joined by existing investors Adams Capital Management, Quaker BioVentures, Birchmere [...]

BTG Inks $320 Million Preclinical Deal With Onyx

BTG has granted the worldwide commercialization and development rights of BGC 945, a novel anticancer compound, to Onyx in exchange for a potential $320M.
BGC 945 is a novel compound that inhibits thymidylate synthase (TS), an enzyme involved in cell growth and division. However, unlike traditional TS inhibitors, BGC 945 enters tumour cells via the alpha-folate [...]

Proteolix Raises $79M in Series C

Proteolix announced the successful completion of a new financing round of $79 million. The Series C round was led by new investor Nomura Phase4 Ventures. New investor Westfield Capital Management and existing investors, Advanced Technology Ventures, Delphi Ventures, Latterell Venture Partners, U.S. Venture Partners and The Vertical Group, all participated in the financing.
Proceeds from the [...]

Secretive Agios Makes Splash with $33M Series A

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Agios Pharmaceuticals, backed by heavy hitters: Third Rock, Flagship and ARCH venture groups, announced it has closed a hefty, $33M Series A financing round.
There is very little substance in the press release or on the Agios website about the company or the technology.
The basic gist though, has to do with modulating the metabolism [...]

Funding Roundup: IRX, Genesis, Inimex, VeraLight and ONCODESIGN

Busy day on the funding side today. Too many to keep up with and I’m pretty sure I missed a couple but, no time for whining:

ONCODESIGN Secures 4.7M in Financing
VeraLight secures $20 million series C financing for a non-invasive diabetes screening system
IRX therapeutics completes $25 million series A preferred stock offering to continue clinical development [...]