Plus, news about ProKidney:
ADC makers return with new startup: Adcytherix raised €30 million ($32.1 million) in a seed round to develop antibody-drug conjugates. The startup is led by Jack Elands, who is part of a team that last year sold Emergence Therapeutics to Eli Lilly for an estimated $470 million. — Lei Lei Wu
David Baker company spins out software business: Cyrus Biotechnology is spinning out Levitate Bio to commercialize its AI protein design software. The University of Washington manages Rosetta’s licensing, but the new company now plans to commercialize software “refined” by Cyrus and Levitate. — Lei Lei Wu
ProKidney plans to raise $125M in a public offering. — Jaimy Lee