Denali Adds $130M To Fuel Neurosci Deals, First Clinical Trial
Summary
Denali Adds $130M To Fuel Neurosci Deals, First Clinical Trial Xconomy San Francisco — Neuroscience startup Denali Therapeutics said Thursday it has added $130 million in privately-raised cash, in part to push a drug program into clinical trials in Europe.The South San Francisco, CA-based firm, unveiled last year with former Genentech neuroscientists at the helm and $217 million from investors, has already used some of its funding in stealth to acquire companies and outside R&D.The firm announced today it has bought Incro Pharmaceuticals of San Diego and struck deals with Genentech, Washington University of St. Louis, Blaze Bioscience of Seattle, and F-star, an antibody developer.(The Incro founders published a paper on RIPK1 inhibitors last year in the journal Cell.)Juno, a developer of T cell-based cancer immunotherapies, launched with capital from traditional venture and big institutions that aren’t typically biotech risk-takers, and with emerging science that was ready or nearly ready for clinical testing.