Listen: Biotech Firms Set Their Funding Sights High
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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