Plus, news about LTZ Therapeutics and VBI Vaccines:
Day One raises money, cuts drug: The Brisbane, CA-based biotech revealed a $175 million private placement, reeled in $8.2 million in sales from pediatric brain tumor drug Ojemda’s first two months on the market, and culled an asset. The company ended its pimasertib program this month, including a Phase 1/2 FIRELIGHT-1 trial.
Pinetree Therapeutics raises $17M: The Cambridge, MA-based biotech plans to use the Series A to fund its protein degraders. STIC Investments and DSC Investment co-led the round. The startup disclosed a protein degrader deal with AstraZeneca last week.
LTZ Therapeutics bags $20M+: The biotech’s Series A will go toward “myeloid engager” programs for cancer and autoimmune diseases. Lapam Capital led the round.
The end of the road for VBI Vaccines? The Cambridge, MA-based biotech said it started a restructuring process as it seeks a sale and expects to cease operating as a public company.