PharmiWeb Recruiter Blog

IDRx

IDRx Launches with $122 Million Series A Financing to Treat Cancer with Purpose-Built Precision Combination Therapies

  • IDRx aims to develop precision cancer medicines with a priori engineered, selective combinations to stop key tumor escape mechanisms and prolong response to therapy
  • Pipeline includes small molecule tyrosine kinase inhibitors, IDRX-42 and IDRX-73, designed to inhibit key genetic drivers and resistance mutations of gastrointestinal stromal tumor (GIST)
  • Company is launching at clinical stage with first-in-human study of IDRX-42 initiated
  • Financing led by Andreessen Horowitz (a16z) and Casdin Capital, with participation from Nextech Invest, Forge Life Science Partners and other undisclosed investors

PLYMOUTH, Mass.--(BUSINESS WIRE)--IDRx, Inc., a clinical-stage biopharmaceutical company dedicated to transforming cancer treatment with purpose-built precision combination therapies, launched today with a $122 million oversubscribed Series A financing. The financing was led by Andreessen Horowitz (a16z) and Casdin Capital, with participation from Nextech Invest, Forge Life Science Partners and other undisclosed investors. Inspired by a few curative combination regimens in cancer and the successful drug cocktails engineered in other disease areas such as cystic fibrosis and antivirals, IDRx was incubated by Borisy Labs to address the limitations of today’s precision cancer medicines with highly selective, purposely designed drug combinations to help more patients achieve prolonged, durable responses to therapy earlier in the course of their disease.

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Labcorp

Labcorp to Spin Off Clinical Development Business

  • Clinical Development Business to be a Leading, Pure-Play Contract Research Organization with a Comprehensive Set of Clinical Trial Management, Market Access and Technology Capabilities
  • Labcorp Remains a Leader in the Laboratory Market with Highly Complementary, Laboratory-Focused Businesses including Routine and Esoteric Labs, Central Labs and Early Development Research Labs
  • Transaction Designed to Create Value Through Enhanced Strategic and Operational Focus
  • Labcorp to Discuss Spin-off and Second Quarter 2022 Financial Results at 9:00 a.m. ET Today

BURLINGTON, N.C.--(BUSINESS WIRE)--Jul. 28, 2022-- Labcorp (NYSE: LH) (the “Company”), a leading global life sciences company, today announced that its Board of Directors has authorized the Company to pursue a spin-off of the Company’s wholly owned Clinical Development business to Labcorp shareholders through a tax-free transaction. The planned spin-off will result in two independent, publicly traded companies, each poised for strong, sustainable growth:

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Recruitment Metrics

21 Recruitment Metrics to Measure in 2022

Recruitment metrics are measurements used to evaluate and optimise your recruitment processes. By gathering vital data such as your cost per hire and sourcing channel effectiveness, you’ll have the opportunity to improve the candidate experience whilst ensuring you’re investing your resources into the right channels, ensuring you’re getting the best ROI for your organisation. 

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Replay

Replay Launches with $55 Million Seed to Reprogram Biology by Writing and Delivering Big DNA

  • KKR and OMX Ventures lead $55 million seed funding round
  • Replay’s genomic medicine toolkit encompasses a portfolio of disruptive platform technologies to write and deliver big DNA, including a high payload capacity HSV delivery platform, a hypoimmunogenic cell therapy platform, and a proprietary genome writing platform
  • Company is led and supported by a world-class team of academics, entrepreneurs, and industry experts
  • Innovative hub-and-spoke business model separates technology development from product development, leveraging Replay’s technologies within discrete product companies
  • Five product companies have been incorporated to date

San Diego, California and London, UK, 25 July 2022 – Replay, a genome writing company reprogramming biology by writing and delivering big DNA, today announced its launch with $55 million in seed financing. The round was led by KKR and OMX Ventures, with additional participation from ARTIS Ventures and Lansdowne Partners, SALT, DeciBio Ventures, and Axial.

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Pharma SGP

PharmaSGP successfully secures financing of up to € 160 million

Gräfelfing, 21 July 2022 – Following strong organic growth and the successful acquisition and integration of the four OTC brands Baldriparan®, Formigran®, Spalt® and Kamol® formerly owned by the GlaxoSmithKline Group (GSK) in the second half of 2021, PharmaSGP Holding SE achieved record sales valued at € 65.3 million in the past financial year. Investors have shared in this success in the form of a dividend amounting to 50.5 % of Group earnings for the period. Once again in the first quarter of 2022, the company continued its dynamic corporate growth seen in previous periods, increasing its sales by 67% relative to the preceding year. With regard to the full year 2022, the German pharmaceutical company is targeting sales of between € 78 million and € 82 million with an adjusted EBITDA margin of 30 to 33%, measured against turnover.

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