Neurogene raises $68.5M; AbbVie and Teneobio sign deal; 5AM Ventures nets

Neurogene raises USD 68.5 Million for rare neurological diseases

Neurogene netted USD 68.5 million to advance multiple gene therapy programs in its series A round. The idea is to take its major programs into IND-enabling studies for Aspartylglucosaminuria (AGU) and a rare form of Charcot-Marie Tooth disease with clinical trials. It receives the funding from Samsara BioCapital, EcorR1 Capital, Cormorant Asset Management and Redmile Group.

AbbVie and Teneobio sign USD 90 Million agreement for multiple myeloma

Teneobio and AbbVie are signing an agreement to develop the bispecific antibody that aims BCMA and CD3. The Big Pharma is giving USD 90 million to Teneobio’s affiliate, TeneoOne, to progress the asset through phase 1. Under the agreement, AbbVie also has the alternative to take over TeneoOne, after which it will acquire the development and commercialization of the drug. 

5AM Ventures nets approximately a million for 2 new VC funds

5AM Ventures, a leading venture capital firm focused on building next-generation life science companies. It has shut two new biotech-focused capital funds that are USD 497 million in commitments. This shows a noteworthy new jump for the firm’s total, as they had previously touched around USD 1 billion since its inception. Presently, 5AM does investments in 73 life sciences companies.