- A third biotechnology company from the startup creator Paragon Therapeutics is heading to the public markets.
- Paragon’s Oruka Therapeutics, which is developing biologic drugs for chronic skin diseases, announced Wednesday plans to reverse merge with Colorado-based Arca Biopharma. The resulting company will operate under the Oruka name and advance the biotech’s slate of preclinical medicines, two of which are being tested as potential treatments for psoriasis.
- To support the new company, Oruka has secured $275 million from a private investment in its common stock. Fairmount and Venrock Healthcare Capital Partners led the funding, which also saw participation from more than a dozen other backers of life sciences companies. Combined with Arca’s own cash, the new company expects to have enough funds to run through at least 2027.
Once a novelty, “hub-and-spoke” models have gained popularity among producers of biotech startups. Roivant Sciences, BridgeBio Pharma,
Click Here to Publish/Feature Your Company or Product News with Biotech Networks
News
Denver Health gets $1.7M infusion to help with youth in crisis
The grant will allow for a new team to work alongside Denver Public Schools in crisis response. Click here to view original post
News
STAT+: Pharma companies and patient groups seek to exempt orphan drugs from Colorado pricing limits
For the second time in two years, a bill is moving through the Colorado legislature that would exempt orphan drugs, which are used to treat rare diseases, from pricing caps that might be pursued by […]
News
Big Data and Bold Medicine: CU Anschutz Returns To Airwaves with “Possibilities Endless”
This spring, the University of Colorado Anschutz Medical Campus returns to primetime. Click here to view original post
