This week in drug discovery (29 April – 3 May) 

News round-up for 29 April – 3 May by DDW Multimedia Editor Megan Thomas.

The ongoing innovation and development in the drug discovery sector relies on a number of moving parts, one of which is financial support and backing. Whether it is successful seed funding or dedicated investment, this money enables scientists to produce top-quality research which will in turn result in discoveries and drugs that help tackle disease and areas of unmet need. Here are five financial success stories that made headlines this week.

The top stories:

LifeArc’s £40m research centres to boost research into rare diseases

Four new LifeArc Translational Centres for Rare Diseases have been created to give people living with rare medical conditions access to improved tests and treatments.

Dundee spin-out raises £4m to advance VLPs

Glen Clova Scientific has closed a £4 million (approximately $5 million) seed financing round, led by Norcliffe Capital together with investment from DSW Ventures, TRICAPITAL Angels and Scottish Enterprise.

Cancer vaccine developer secures £12.8m

Oxford University spin-out Infinitopes Precision Immunomics has completed a £12.8 ($16) million seed funding round led by Octopus Ventures.

$15 million CIRM grant supports allogeneic CAR-T in renal cell carcinoma

Allogene Therapeutics has received a $15 million grant from the California Institute for Regenerative Medicine (CIRM) to support the development of ALLO-316, an AlloCAR T investigational product for the treatment of advanced or metastatic renal cell carcinoma (RCC).

$75m in funding to develop tenosynovial giant cell tumour mAb

SynOx Therapeutics has closed a $75m Series B financing round, which will be used to generate registrational Phase III clinical and CMC data for emactuzumab, the company’s potentially best-in-class CSF-1(R) inhibiting monoclonal antibody (mAb) for the treatment of tenosynovial giant cell tumour (TGCT). 

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