June 6 Quick Takes: Resilience adds $1.2B to build manufacturing capabilities

Two-year-old biomanufacturing company National Resilience Inc. revealed two rounds of funding totaling more than $1.2 billion, including a new $625 series D round at a higher valuation than its previously undisclosed $600 million series C in August 2021. Co-founded by Arch Venture Partners’ Robert Nelsen and backed by that firm, Resilience is aiming to be a partner for developers of biologics, vaccines, nucleic acids and cell and gene therapies, with the aim of improving manufacturing efficiency at scale. Resilience has raised more than $2 billion since its establishment in 2020 and has 10 facilities in North America.

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is shifting its focus to movement disorders and epilepsy after its lead program PRAX-114 missed the primary and secondary endpoints in the Phase II/III Aria Study to treat major depressive disorder. Investors sent the stock tumbling $6.71 (78%) to $1.88 on Monday. The biotech will now shift its focus to the Phase IIb study of calcium channel T-type blocker PRAX-944 to treat essential tremor from which data are expected in the second half of the year. At March 31, Praxis had $222.5 million, which it now expects will extend its runway into 2024...