Finance Watch: Big Money For Private Biopharma As Start-Up Areteia Raises $350m

Qiming Ventures’ New VC Funds Total $3.2bn

 
• By Mandy Jackson
  
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Private Company Edition: As venture capital funding continues at a robust pace relative to public company financings, Knopp Biosciences and Population Health Partners launched Areteia with enough cash to fund Phase III asthma trials and Qiming revealed new VC funds totaling $2.5bn and $700m.

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Knopp Biosciences LLC and the private equity firm Population Health Partners launched Areteia Therapeutics Inc. on July 12 with up to $350m to take Knopp’s dexpramipexole into Phase III clinical trials in eosinophilic asthma. It’s a new chapter for the oral small molecule, which Knopp had previously licensed to Biogen, Inc. more than a decade ago but failed in a Phase III trial in amyotrophic lateral sclerosis (ALS).

Bain Capital Life Sciences, another private equity heavy hitter, led the late-stage start-up’s series A funding round with participation from...

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