Seven companies raise $900M total in big week for VC fundings: Venture Report

Seven companies announced fundings of at least $90 million this week as venture dollars continued to flow into biotech. Meanwhile, two prominent funds each closed new vehicles that will back more start-ups.

Two months after striking a deal with Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKEX:2196) for most global rights to CTSC (DPP-1) inhibitor XH-S004, Expedition Therapeutics Inc. has announced the close of a $165 million series A round. Sofinnova Investments and Novo Holdings co-led the financing, which will drive a planned Phase II study of the therapy, now known as EXPD-101, to treat chronic obstructive pulmonary disease (COPD). Expedition’s CEO is Yi Larson, a former CFO at LianBio and Turning Point Therapeutics Inc...