Listen: Biotech Firms Set Their Funding Sights High
Several biotech firms are aiming to secure significant funding in the new year, following a period of financial uncertainty. ARMO BioSciences, Solid, and resTORbio are among the companies seeking approximately $271 million for research and development. These companies focus on innovative therapies like immunotherapy and gene-transfer therapy for treating serious diseases.
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Key takeaways
Biotech companies plan to raise $271 million for research and development.
Companies like ARMO BioSciences and Solid are focusing on innovative therapies.
The biotech sector is rebounding after a challenging financial period in 2016 and early 2017.
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The arrival of the new year also brings with it, the arrival of new products in the marketplace. Of specific interest this year are several biotech firms that have their funding sights set fairly high. While 2016 and the 1st quarter of 2017 were somewhat bleak for the industry financially speaking, there was a definite uptick beginning in the 2nd quarter of 2017. The Redwood City, California firm, ARMO BioSciences is gathering funding for its white-blood cell boosting immunotherapy offering. On the other coast, Cambridge, Massachusetts-based laboratory, Solid, is moving forward with its gene-transfer therapy aimed at Duchenne Muscular Dystrophy. Finally, anti-aging research continues right down the road at resTORbio, in Boston. These 3 biotech companies are aiming to acquire approximately $271 million in capital this year to continue their research and development.
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