Medical Innovation Exchange

Fierce Biotech Fundraising Tracker '24: HI-Bio secures $95M; Radionetics raises $52.5M

A new year means a new Fierce Biotech Fundraising Tracker to record all the venture capital being funneled into the industry for 2024.

We’re bumping up our reporting criteria from last year’s tracker, including any fundraising rounds north of $50 million this time around. We’ll still profile exciting new companies and larger rounds in-depth, while we focus more coverage on clinical trial results, special reports and enterprise stories.

January

Jan. 4—Claris Bio

Series: A
Amount: $57 million 
Investors: Novo Holdings A/S, RA Capital, Mass General Brigham Ventures and Janus Henderson Investors

A new biotech has emerged with $57 million in hand to tackle corneal disease. Claris Bio broke stealth cover Thursday, led by Clarke Atwell. The company, initially funded in 2020, is developing CSB-001 as a topical ocular biologic solution to restore structural and functional corneal integrity to eyes with neurotrophic keratopathy. Release 

Jan. 4—Moonwalk Biosciences

Series: A
Amount: $57 million

Investors: Alpha Wave Ventures, ARCH Venture Partners, Future Ventures, GV, Khosla Ventures and YK Bioventures

The Broad Institute of MIT and Harvard’s CRISPR gene editing legend Feng Zhang, Ph.D., is the scientific backer of Moonwalk Therapeutics, which emerged today with $57 million to develop new epigenetic medicines. The company’s epigenetic profiling and engineering technology platform targets the epigentic code, called the software of the genome. Release

Jan. 4—Human Immunology Biosciences (HI-Bio) 

Series: B 
Amount: $95 million 
Investors: Alpha Wave Global, Viking Global Investors, Arkin Bio Capital, Jeito Capital and ARCH Venture Partners.  

HI-Bio has secured $95 million in a series B round, money that will be funneled toward felzartamab, the biotech’s lead therapeutic candidate. The clinical-stage monoclonal antibody targets CD38 and was in-licensed from MorphoSys. HI-Bio is assessing felzartamab in antibody-mediated rejection, IgA nephropathy, lupus nephritis and primary membranous nephropathy. The biotech will also direct the new money toward a clinical study for HIB210, an anti-C5aR1 candidate targeting neutrophil activation and chemotaxis. Release

Jan. 3—Radionetics Oncology

Series: A
Amount: $52.5 million
Investors: Frazier Life Sciences, 5AM Ventures, DCVC Bio, Crinetics Pharmaceuticals and GordonMD Global Investments.

Radionetics has raised a $52.5 million series A, bringing the radiopharma biotech’s total raised to $82.5 million. The young biotech plans to use the new funds to build out a pipeline of small molecule radiopharmaceuticals targeting novel G-protein coupled receptors (GPCRs) to treat a range of cancers. In tandem with the financing, the company has also tapped Paul Grayson to take on the top spot as CEO. With more than 25 years of industry experience under his belt, Grayson most recently served as president and CEO of Tentarix Biotherapeutics. Release

https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-24

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