June 8 Financial Quick Takes: Novo’s REPAIR fund issues call for AMR proposals; B rounds for MabPlex, Clover; A rounds for Shorla, Curesponse
Fresh call for proposals to fight AMR
Novo Holdings’ REPAIR Impact Fund is calling on companies developing therapies to combat antimicrobial resistance to submit proposals for funding. The submission window is open until July 31. The fund, which has a total investment budget of €135 million ($153 million), is investing in companies with projects between lead optimization and Phase I trials; however, it may continue support into Phase II testing (see “Novo Seeks to REPAIR Funding”).
Detong and Huajin lead MabPlex’s $71M series B
MabPlex International Ltd. raised over RMB500 million ($70.6 million) in a series B round led by Detong Capital and Huajin Investment. The round saw participation by Sunshine Insurance Group, OrbiMed, China Merchants Securities, Xinzhen Tianying Fund, GF Venture Capital, Huachen Finance, Finnova Capital, Horus Capital, Yantai Finance, Zhongsheng Huiyin Investment, Qiandao Fund and Ligong Investment. The CDMO has R&D sites in Shanghai and San Diego and a manufacturing site in Yantai, where it is headquartered.
Clover raises $24M series B-2
Sichuan Clover Biopharmaceuticals Inc. raised $24 million in a series B-2 round backed by GL Ventures, bringing the total capital raised by the Chengdu-based company since 2016 to over $140 million. Clover is developing trimerized fusion proteins to target cancer and infectious disease pathways (see “Trimerizing Fusion Proteins”)...