Plus, news about Phathom and CANbridge:
Avidity Biosciences closes $345.1M offering: The raise comes on the heels of Phase 1/2 data earlier this month that showed its RNA drug candidate generated a 25% increase in dystrophin production. It’s the second big raise for Avidity in the last few months; the company also closed a $461 million public offering in June. — Max Gelman
Janus Henderson’s $150M fund: The global asset manager’s Biotech Innovation Fund II plans to invest in a long/short strategy for small-cap public biotechs, according to a source familiar with the matter. — Kyle LaHucik
Phathom seeks $130M: The company is putting together a public offering one month after nabbing an FDA approval to expand its heartburn drug’s label into non-erosive gastroesophageal reflux disease. It’s expected to be a larger market than the original label, executives have said. Its stock $PHAT was up about 6% on Monday morning. — Max Gelman
CANbridge Pharmaceuticals plans for NDA in China for Gaucher disease drug: Following positive topline data from a pivotal trial in treatment-naïve patients with Gaucher disease, CANbridge announced Monday it plans to submit CAN103 for approval in China by the end of the year. The trial hit the primary and secondary endpoints in the trial. CAN103 is the first enzyme replacement therapy being developed for Gaucher disease in China, according to the company. — Katherine Lewin