Wnt to market

With no traditional life science VCs in its syndicate and little publicly disclosed about its science, Samumed LLC was able to raise a $438 million round at a premoney valuation of $12 billion, bringing its total funding to more than $650 million to date.

The company hasn’t yet described any of its Wnt signaling pathway modulators’ mechanisms or targets, but believes it can bring a drug to market within four years and intends to hold off on an IPO until it has 6-12 months of revenue, CEO Osman Kibar told BioCentury...