Follow the Money: Alzheimer’s Meds, Single Cell Multi-Omics Technology – Bio-IT World
September 14, 2020 NIH contracts to explore radiation countermeasures, Alzheimer’s medication, and convalescent plasma, Mission Bio gets $70M for single cell multi-omics technology, and more.
$300M: Series D for New Materials
Science and material innovation company Zymergen (Emeryville, Calif.) has announced $300M in new investment to accelerate its delivery of revolutionary, high performance materials. The investment includes initial Series D funding led by Baillie Gifford, joined by Baron Capital Group and one of the world’s largest sovereign wealth funds, as well as additional growth financing from Perceptive Advisors. A number of current investors are also returning, and Zymergen expects to raise additional capital in Q4 as part of a Series D round. Zymergen develops and launches better performing products more sustainably and for a fraction of the cost and time that it typically takes using incumbent techniques. A unique combination of biology, chemistry, machine learning and lab automation underpins Zymergen’s powerful proprietary platform, driving the company’s ability to discover, design and commercialize never-before-seen materials.
$270M: Series C for Multiomics Blood Testing for Cancer
Freenome (South San Francisco, Calif.) announced an oversubscribed $270M Series C financing to accelerate the PREEMPT CRC clinical trial for Freenome’s blood test for colorectal cancer screening and precancerous lesion detection, advance a pipeline of blood tests for both the early detection and early intervention of additional cancers, and continue building the company’s proprietary multiomics platform. PREEMPT CRC is an FDA registrational study launched in May 2020 to support approval by the U.S. Food and Drug Administration