Beeline ups its Series A round for immune drug work

Corporate Action
โดย BioPharma Dive·Read original
Summary · why it matters

Beeline Medicines has attracted another $126.3 million in funding, adding to an enormous Series A round originally announced in the spring to fund its work on drugs for immune conditions. That brings the total raised by Beeline to $426.3 million, one of the largest fundraises this year for a privately held biotechnology company. The Series A extension comes ahead of a data readout for afimetoran, a once-daily oral drug in mid-stage testing for systemic lupus erythematosus. Investors in the latest financing include Bain Capital, Canada Pension Plan Investment Board, and Bristol Myers Squibb. Beeline was built around drugs licensed from Bristol Myers Squibb, and the cash is expected to carry it into late-stage clinical development.

Impact on stocks 1

Biotech & Genomic Medicine▲ · 1 stocks
Bristol-Myers Squibb Company
BMY
▲ PositiveCapitalrelevance

Bristol Myers Squibb invested in Beeline's Series A extension, indicating continued interest in the licensed drugs.

Theme Impact 1

Off-coverage companies 3

Beeline MedicinesPrivate▲ Positive
Capitalrelevance

Beeline raised $126.3M in Series A extension, totaling $426.3M, one of the largest biotech fundraises this year.

Bain CapitalPrivate± Mixed
Capitalrelevance

Bain Capital is a lead investor in Beeline's Series A extension, but the news is about Beeline, not Bain's own performance.

Canada Pension Plan Investment BoardPrivate± Mixed
relevance

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