So far, treatment Research has had a nice week, with three more big pharmaceutical and biotechnology companies announcing the successful completion of their various funding rounds to support future efforts. Rakuten Medical raised $166 million in Series D preferred stock financing, which included the conversion of $91 million in convertible promissory notes and $75 million in new capital.
General Catalyst led the fundraising drive, but it was backed by a number of other existing investors, including SBI Group and Rakuten Group. The majority of the funds raised will go toward speeding up Research on ASP-1929, the company’s main medicine, which was licenced in Japan in September 2020 for the treatment of unresectable locally advanced or locally recurrent head and neck cancer.
Bota Bio’s Series B funding have now reached $145 million as a result of this latest venture. Bota Bio said the money will be used to extend its global reach and create its lab-to-pilot scale platform for the quick scale-up and deployment of its consumer products, food, nutritional, and pharmaceutical product pipelines, according to a statement.Bota Bio was formed in 2019 by industry leaders and scientists with the goal of integrating digital technologies with laboratory automation through a technological platform called Bota Freeway. The company’s main purpose is to develop biologically produced alternatives to fossil-fuel-based, energy-intensive products and processes.