Category: Uncategorized

PBS Biotech Raises $22M to Expand Single-Use Manufacturing Products and Services for Cell Therapy Clients

January 9, 2023

CAMARILLO, Calif. /PRNewswire/ — PBS Biotech (“PBS”), an innovative, single-use bioreactor manufacturer and process development services provider, has completed a $22 million financing led by Avego Management, LLC (“Avego”) with additional investment from existing investor BroadOak Capital Partners (“BroadOak”). This financing will be used to improve the company’s products portfolio, expand its process development services capability, and increase customer support for global cell therapy clients.

Escient Pharmaceuticals Announces $120 Million Series C Financing

November 28, 2022

SAN DIEGO–(BUSINESS WIRE)–Escient Pharmaceuticals, a clinical-stage company advancing novel small molecule therapeutics for the potential treatment of a broad range of neurosensory-inflammatory disorders, today announced the closing of a $120 million Series C financing.

The financing was co-led by NEA, Abingworth, and Forge Life Science Partners with participation from other new investors Avego, PFM Health Sciences, and The Eleven Fund, as well as the company’s existing investors The Column Group, 5AM Ventures, Redmile Group, Cowen Healthcare Investments, Sanofi Ventures, Osage University Partners (OUP), and Altitude Life Science Ventures.

AtomVie Global Radiopharma Inc. Announces its Spinout and Series A Financing with Avego

August 24, 2022

HAMILTON ON /PRNewswire/ – AtomVie Global Radiopharma Inc. (“AtomVie”) today announced the successful closing of its Series A financing with Avego Management, LLC (“Avego”), a healthcare investment firm. AtomVie is a global leading CDMO (Contract Development and Manufacturing Organization) for the development, manufacturing, and global distribution of radiopharmaceuticals and has received a financing commitment of at least $40 million.

Amneal Acquires Saol Therapeutics’ Baclofen Franchise

January 5, 2022

BRIDGEWATER, N.J. & ROSWELL, Ga.–(BUSINESS WIRE)–Amneal Pharmaceuticals, Inc. (NYSE: AMRX) (“Amneal”) and Saol Therapeutics, a private specialty pharmaceutical company (“Saol”), today announced a definitive agreement under which Amneal will acquire Saol’s Baclofen franchise, including Lioresal® and LYVISPAHTM as well as a pipeline product under development. The acquisition expands Amneal’s commercial institutional and specialty portfolio in neurology while adding commercial infrastructure in advance of its entry into the biosimilar institutional market. The transaction is expected to be accretive to Amneal’s adjusted EBITDA and adjusted earnings per share results for 2022.

Saol Therapeutics Announces FDA Approval of LYVISPAH™ (baclofen) Oral Granules and the Divesture of its Plasma-derived Hyperimmune Portfolio

December 7, 2021

ROSWELL, Ga. and DUBLIN and HAMILTON, Bermuda /PRNewswire/ — Saol Therapeutics today announced that the U.S. Food and Drug Administration (FDA) has approved Saol’s LYVISPAH™ (baclofen) oral granules.

LYVISPAH™ (lye-vis’-pah) is indicated for the treatment of spasticity resulting from multiple sclerosis, particularly for the relief of flexor spasms and concomitant pain, clonus, and muscular rigidity.  LYVISPAH™ may also be of some value in patients with spinal cord injuries and other spinal cord diseases.  LYVISPAH™ is a strawberry-flavored, dissolvable granular formulation of baclofen and will be available for patients 12 years and above in 5mg, 10mg, and 20mg packets.  Unlike other formulations of baclofen, it is approved for administration with or without water, with soft foods and with enteral feeding tubes.

Antios Therapeutics Raises $75 Million in a Series B-1 Funding to Advance Clinical Programs for HBV

November 3, 2021

MENDHAM, N.J. /PRNewswire/ — Antios Therapeutics, Inc. (“Antios”), a clinical-stage biopharmaceutical company developing innovative therapies to treat and cure chronic hepatitis B virus (HBV), today announced the successful closing of a $75 million Series B-1 financing. The financing round was co-led by GordonMD Global Investments, a firm focused on investments in private and publicly traded global growth and innovative biopharma companies primarily located in the United StatesJapan, and Europe.

Jasper Therapeutics Closes Transaction With Amplitude Healthcare Acquisition Corporation

September 24, 2021

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Jasper Therapeutics, Inc., a biotechnology company focused on hematopoietic cell transplant therapies, today announced the completion of its business combination with Amplitude Healthcare Acquisition Corporation (Nasdaq:AMHC), a special purpose acquisition company sponsored by affiliates of Avego, LLC and Metalmark Capital. The business combination closed on September 24, 2021. Following the closing, the combined company will operate as Jasper Therapeutics, Inc. and, on or about September 27, 2021, its shares of voting common stock and warrants are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “JSPR” and “JSPRW,” respectively.

Ribon Therapeutics Secures $65 Million Financing

July 14, 2021

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Ribon Therapeutics, a clinical stage biotechnology company developing therapeutics targeting stress support pathways in cancer and inflammation, announced the closing of a $65 million financing. The financing was led by Deerfield Management and U.S. Venture Partners, with support from new investors Avego BioScience Capital, GV (formerly Google Ventures), Monashee Investment Management and Peregrine Ventures, along with existing investors AbbVie Ventures, Bristol Myers Squibb, Euclidean Capital, Johnson & Johnson Innovation – JJDC, Inc., Novartis Venture Fund, Osage University Partners, Takeda Ventures and The Column Group. Ribon will use the proceeds to support the clinical development of its novel precision medicine candidates.

Jasper Therapeutics and Amplitude Healthcare Acquisition Corporation Announce Merger to Create a Publicly Listed Leading Biotechnology Company in Hematopoietic Stem Cell Transplantation

May 06, 2021

REDWOOD CITY, Calif., & NEW YORK–(BUSINESS WIRE)–Jasper Therapeutics, Inc., a biotechnology company focused on hematopoietic cell transplant therapies, and Amplitude Healthcare Acquisition Corporation (Nasdaq: AMHCU), a special purpose acquisition company (SPAC) sponsored by affiliates of Avego, LLC and Metalmark Capital, today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, anticipated to occur in the third quarter 2021, the combined company will be renamed Jasper Therapeutics, Inc., and its common stock is expected to be listed on Nasdaq under the ticker symbol “JSPR.”