April 19 Quick Takes: Flagship-founded Tessera raises $300M from broad syndicate
Plus: Schizophrenia setback for Teva, MedinCell and updates from BioXcel, Moderna, J&J, Unlearn, Amgen and more
Tessera Therapeutics Inc. raised $300 million in series C funding to build out its Gene Writing platform, which uses mobile genetic elements for targeted genetic changes without double-stranded breaks or relying on host cell DNA repair machinery, and develop therapeutics programs. Investors included Abu Dhabi Investment Authority, Alaska Permanent Fund, Altitude Life Science Ventures, ARTIS Ventures, Cormorant Asset Management, founding investor Flagship Pioneering, Hanwha Impact Partners, Longevity Vision Fund, March Capital, SALT Fund, SoftBank Vision Fund 2, funds and accounts advised by T. Rowe Price Associates, and all of Tessera’s existing institutional shareholders.
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; Tel Aviv:TEVA) is reviewing next steps after FDA issued a complete response letter for an NDA for subcutaneous TV-46000/mdc-IRM risperidone extended-release from the company and partner MedinCell S.A. (Euronext:MEDCL) for schizophrenia. If approved, MedinCell is eligible for milestones of $122 million and royalties on net sales...