Gary Glick has proven himself, time and again, a nifty startup artist. After selling Lycera to Celgene, he held a streak for IFM Therapeutics — carving a plate of inflammation programs each time and turning the resulting subsidiary over to Big Pharma, while keeping the core discovery unit — and more recently lined up $270 million for precision oncology work at Scorpion.
IFM Therapeutics (IFM), a privately-held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system, today announced the closing of a $55.5 million financing and the launch of its third subsidiary, IFM Quattro, as well as a new incubator, IFM Discovery, both of which will be supported by a portion of the new funds raised. IFM Quattro and IFM Discovery will focus on developing next-generation small molecule immunotherapies for inflammatory diseases and cancers. The financing was led by new investor Omega Funds, with participation from existing investors Atlas Venture and Abingworth. In conjunction with the financing, Paulina Hill of Omega Funds will join Jean-François Formela of Atlas Venture and Shelley Chu of Abingworth on the IFM Discovery and IFM Quattro Boards of Directors.
It’s been a busy year for IFM Therapeutics. After selling off a subsidiary to Novartis and enlisting the Big Pharma as a partner for another unit, the company is promoting its R&D chief Martin Seidel, Ph.D., to CEO and reeling in $55.5 million to fund more subsidiaries, including an incubator.
IFM Therapeutics (IFM), a privately-held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system, today announced the closing of a $55.5 million financing and the launch of its third subsidiary, IFM Quattro, as well as a new incubator, IFM Discovery, both of which will be supported by a portion of the new funds raised. IFM Quattro and IFM Discovery will focus on developing next-generation small molecule immunotherapies for inflammatory diseases and cancers. The financing was led by new investor Omega Funds, with participation from existing investors Atlas Venture and Abingworth. In conjunction with the financing, Paulina Hill of Omega Funds will join Jean-François Formela of Atlas Venture and Shelley Chu of Abingworth on the IFM Discovery and IFM Quattro Boards of Directors.
IFM Therapeutics, LLC (IFM), a privately-held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system to treat inflammatory disorders and cancer, today announced the publication of a new study in Nature that demonstrates NLRP3 inflammasome activation is required for tau pathology both directly and downstream of amyloid beta, in tauopathies (such as frontotemporal dementia) and Alzheimer's disease. The study findings further suggested that patients with these disorders could benefit from NLRP3 antagonists. The team publishing the pre-clinical research includes IFM clinical advisory board member, Michael Heneka, M.D., Director of the Department of Neurodegenerative Diseases and Gerontopsychiatry at University Hospital of Bonn, IFM co-founder Eicke Latz, M.D., Ph.D., University of Bonn, and IFM Scientist James Stunden. The publication is available through Nature.
In a second deal between the companies, privately-held Boston, USA-based biotech IFM Therapeutics, through…
Just five months after Novartis put down $310 million for IFM Therapeutics’ inflammation-focused unit, the Big Pharma has come back for more. This time, it is teaming up with IFM Due, the subsidiary IFM created to develop treatments targeting the cGAS and STING pathways, with an exclusive buyout option worth up to $840 million.
Boehringer signed a deal to buy out a small, private immuno-oncology player this morning, and AbbVie’s been at it, too, inking a deal to snap up Mavupharma.
IFM Therapeutics (IFM), a privately-held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system, announced today the completion of the previously-announced acquisition of its subsidiary, IFM Tre, by Novartis. IFM received $310 million in upfront payments concurrent with the close of the agreement, and is eligible for up to $1.265 billion in milestone payments.