12:23 PM
 | 
Oct 26, 2018
 |  BC Week In Review  |  Financial News  |  Completed Offerings

89Bio, a NASH start-up with Teva ties, debuts with $60M

89Bio Ltd. (San Francisco, Calif.) will use its $60 million series A financing to develop therapeutics for non-alcoholic steatohepatitis and other liver and metabolic diseases. The financing was co-led by OrbiMed Israel, OrbiMed US and Longitude Capital. RA Capital Management and Pontifax also participated.

89Bio was founded by OrbiMed Israel and OrbiMed US with a pair of assets acquired from Teva Pharmaceutical Industries Ltd. (Tel Aviv:TEVA; NYSE:TEVA). 89Bio CEO Rohan Palekar told BioCentury that Teva had decided to halt development of the compounds. Palekar declined to...

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