Star Therapeutics raises $200M to rebuild its drug pipeline
Star Therapeutics secured $200 million to advance hematology and immunology programmes following two major portfolio exits.
What happened
Star Therapeutics raised $200 million in private financing co-led by OrbiMed and Janus Henderson Investors. The capital will advance its hematology and immunology programmes after the sale of Vega Therapeutics and the public listing of former subsidiary Electra Therapeutics.
Why it matters
The financing effectively gives Star a substantial new pool of capital for an earlier-stage pipeline. It also follows significant value creation from companies previously formed within the Star organisation.
The bigger picture
Biotech platform companies increasingly recycle teams and capital into successive pipelines. Star must now convert that operating history into new clinical candidates and evidence.