The biggest US biotech investments in July 2022

Asthma specialist Areteia Therapeutics won the US crown for best private biotech investment in July 2022, with liquid biopsy company Delfi Diagnostics and metabolic disease drug developer Carmot Therapeutics among the finalists.

Major U.S. private biotech investments in July 2022 fell short of National Resilience’s dizzying Series D highs of $625 million in June. However, there were still notable investments in the mix.

Pittsburgh-based Areteia Therapeutics was the winner in July 2022. The company was launched with $350 million in a supersized Series A funding round to fund the development of first-in-class oral drugs tackling a form of asthma called eosinophilic asthma which mainly affects adults. .

Areteia’s lead drug candidate inhibits the maturation of immune cells in the bone marrow that cause eosinophilic asthma, called eosinophils. The drug is designed to reduce the frequency of eosinophilic asthma attacks in the same way as injectable medications, including benralizumab (Fasenra), mepolizumab (Nucala), and reslizumab (Cinqair).

Delfi Diagnostics came second in July 2022 with Series B funding of $225 million. Based in Baltimore and California, the company is developing a new class of liquid biopsy tests that could allow medical professionals to detect cases of cancer before symptoms appear. In third place, Carmot Therapeutics won $160 million in a Series D round to fund clinical studies of drugs for metabolic conditions such as obesity and type 2 diabetes.

While Areteia’s first investment topped the Series A ranking well, there were other impressive rounds in July 2022. Vicinitas Therapeutics came in second place with $65 million to fund the development of treatments against cancer and genetic diseases. The San Francisco-based company aims to stabilize proteins in the cell that would be abnormally degraded in cancer and genetic disorders, and are considered unmedicable with traditional approaches.

Another notable Series A biotechnology investment in the United States in July was a round of Cartography Biosciences, which launched in California to develop next-generation cancer therapies. With the help of single-cell genomics and proteomics, the firm is building an atlas of cancer antigens that it can target with drug treatments. And Epicrispr Biotechnologies (Epic Bio) was also launched in California with a mission to treat diseases using gene editing to control gene expression via the epigenome.

Replay, a biotech company based in San Diego, California, topped the US biotech investment seed round rankings in July 2022. The company launched with a seed round worth $55 million to develop a range of technologies that form the framework for emerging cell and gene therapies. These tools include viral vectors with high payload capacity, cell therapies that avoid triggering the immune system, and DNA synthesis technology capable of writing large synthetic genes. The company aims to develop gene therapies to treat genetic diseases affecting the skin, eyes, brain and muscles.

As usual, industrial biotech companies raised a small proportion of major biotech investments in the United States. The companies that made the biggest investments in this sector in July were agricultural biotechnology players Enko Chem and Napigen.

Another notable investment in the United States involved the company Turn Biotechnologies. The company received a $1 million injection from the decentralized autonomous organization VitaDAO. This is one of the largest investments made by the organization to date and signals that the emerging world of biotech DAOs is gaining momentum.

Across the border from the United States, its neighbor Canada has also made an outstanding biotech investment: a $13.2 million Series A raised by Spiderwort, a biotech using tissue scaffolds based on cellulose to treat spinal cord injuries.

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