Company	New Funding	Use Of Proceeds
Pulmocide Ltd.; London	Pulmocide said on 27 May that it closed a $92m series C round led by Jeito Capital. The company closed a $30m series B round in 2017. (Also see "Inhaled Anti-Infectives With Extended Lung Retention: Pulmocide Secures Cash To Fund Trials" - Scrip, 20 March, 2017.)	The company is developing novel inhaled therapies for acute and chronic respiratory diseases. It primarily will use the funding proceeds to run a global Phase III registration program for lead asset PC945 in patients with invasive pulmonary aspergillosis (IPA) who have failed prior therapy. The novel triazole antifungal is designed to accumulate when nebulized in lung airway epithelial cells and macrophages to deliver large, sustained doses to the site of infection in the lung while minimizing systemic exposure.
Stablix Therapeutics; New York	Founding investor Versant Ventures led a $63m series A round that the company announced on 3 June with participation from NEA, Cormorant, Euclidean Capital and Alexandria Real Estate Equities.	With an initial focus on rare diseases, cancer and immunological disorders, Stablix specializes in targeted protein stabilization to develop small molecules that disrupt excessive ubiquitination that leads to rapid degradation of proteins in the proteasome. The company’s drugs recruit deubiquitinase enzymes to remove ubiquitin from targeted proteins and stabilize or increase protein levels and activity. Stablix will use its new funding to build out its platform and advance its first protein stabilizers towards the clinic.
Engine Biosciences; Singapore and San Carlos, CA	The company revealed a $43m series A round on 26 May led by Polaris Partners. Funding to date totals $53m, including a $10m seed round in 2018.	Engine aims to identify errors in complex genetic codes of diseases and fix them with precision medicines. It will use its series A proceeds to expand its precision oncology portfolio of small molecules, prepare for its first clinical programs and scale its platform, which combines data science, machine learning, high-throughput biology experimentation, combinatorial genetics, chemistry and drug discovery..
Ajax Therapeutics, Inc.; New York	EcoR1 Capital led a $40m financing that Ajax announced on 1 June.	The company is using computational chemistry and structure-based technologies to develop novel small molecules for hematologic malignancies, including drugs that target key cytokine signaling pathways. Ajax will use its new cash to advance its lead development program and expand its drug development pipeline, including outside of hematologic malignancies.
Phanes Therapeutics, Inc.; San Diego and Shanghai	Phanes said on 25 May that it closed a $40m series B round led by Sequoia Capital China.	The immuno-oncology specialist will use its series B proceeds to advance preclinical programs into the clinic and advance additional research programs for cancer and eye diseases. Phanes partnered with Hanmi Pharmaceutical Co., Ltd. in 2019 on the development of bispecific and multi-specific antibodies. (Also see "Deal Watch: Castle Creek Likes Partner Fibrocell Enough To Buy It" - Scrip, 17 September, 2019.)
August Bioservices LLC; Nashville, TN	Polaris Partners led a $23.6m series A round announced on 27 May with participation from existing investor Oak HC/FT.	August Bioservices is a contract development and manufacturing organization. The firm will use its new funding to expand its manufacturing capacity and advance its sterile injectable medicines capabilities.
Amyl Therapeutics; Liege, Belgium	Amyl said on 3 June that it raised €18.3m ($22.2m) in series A financing, including €8.6m in equity led by Noshaq, a regional Belgian private-public fund, and €9.7m in non-dilutive funding from the DG06, a policy design and implementing body for research and innovation in Belgium’s Walloon region.	The company is developing its amyloid fibrils-specific ClariTY technology platform for the treatment of all forms of amyloidosis. Amyl will use the proceeds of its series A round to fund preclinical development of drugs that target misfolded proteins implicated in progressive peripheral and neurodegenerative rare diseases. Potential drug targets include antibody light chain (AL) or transthyretin (TTR) aggregates involved in systemic amyloidosis as well as amyloid-beta, tau and alpha-synuclein aggregates that accumulate in the brain to cause Alzheimer’s and Parkinson’s diseases.
Rgenta Therapeutics; Cambridge, MA	Rgenta launched in April with $20m in seed financing and announced on 25 May that it extended the seed round by $18m with new backing from Lilly Asia Ventures and Vivo Capital.	The company is developing RNA-targeting small molecules against historically undruggable targets. The new funding will support expansion of Rgenta’s pipeline and efforts to bring in external programs. (Also see "Finance Watch: Biopharma Fundraising Impact Expected, But Not Apparent Yet" - Scrip, 17 April, 2020.)
GPB Scientific, Inc.; Carlsbad, CA	The company said on 27 May that it extended a previous financing by $18m with commitments from Amgen Ventures and Versana Capital and an undisclosed health care investor.	GPB is developing cell processing technology for next-generation cell and gene therapies. Its Deterministic Cell Separation technology is designed to provide substantial improvements in cost, time and cell quality.
Stellanova Therapeutics Inc.; Houston	Stellanova said on 3 June that it closed a $15.5m series A round led by Sporos Bioventures LLC.	The company is developing cancer therapies that target the tumor microenvironment. It will use the series A proceeds to take its lead program – an antibody targeting DKK3 – into the clinic and build its discovery platform.
Asylia Therapeutics, Inc.; Houston	Sporos Bioventures also led a $14.5m series A round that Asylia announced on 25 May.	Asylia is developing novel immune modulating therapies and will use the funds to take multiple oncology programs into the clinic and generate proof-of-concept signals in autoimmune diseases. Lead drug candidate ASY-77A enhances antigen presentation by targeting the extracellular form of HSP70, so that the antigens can be detected by multiple types of immune cells.
ImaginAb, Inc.; Los Angeles	The company said on 3 June that it secured $12.8m in growth capital in a financing led by existing investors Adage Capital and Cycad Group.	ImaginAb is developing radiopharmaceutical imaging and therapeutic agents. Its new cash will fund an ongoing trial of CD8 ImmunoPET and the development of additional therapeutic radiopharmaceuticals. CD8 ImmunoPET is an imaging agent with the potential to diagnose the immune status of a patient with cancer or autoimmune disease, measure efficacy of immunotherapies and predict patient outcomes.
Transine Therapeutics; Cambridge, UK	Transine announced on 2 June that it raised £9.1m ($12.9m) in an extended seed funding round led by Takeda Ventures and the Dementia Discover Fund.	The company is developing therapeutic RNAs based on its SINEUP technology platform. Its new funding will be used to develop a pipeline of therapeutic RNAs for central nervous system and ophthalmology indications.

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