Virginia Li

BioCentury — Cornerstone Pharmaceuticals Inc. was planning a traditional development pathway for CPI-613 in acute myelogenous leukemia and pancreatic cancer, but FDA nudged the company to go from Phase I to pivotal trials for both indications.According to COO Sanjeev Luther it was FDA, not the company, that suggested an accelerated development timeline based on the strength of the Phase I data.

BioCentury — Frazier Healthcare Partners had been tracking SutroVax Inc.'s progress since it spun out of Sutro Biopharma Inc. in 2013 and came on board to co-lead the company's $60 million series B round after preclinical proof-of-concept data materialized for the lead conjugate vaccine.

BioCentury — After becoming the first Japanese biotech to go public in 18 months, Solasia Pharma K.K. (Tokyo:4597) plans to use the proceeds to prepare to launch its first products in China.

BioCentury — Print PDF Mitsubishi UFJ Capital Co. Ltd. launched Mitsubishi UFJ Life Science I L.P. with ¥10 billion ($89 million). The fund, which closed on Monday, will invest in up to 20 healthcare companies in the U.S., Europe and Japan. In 2013, Mitsubishi and Daiichi Sankyo Co. Ltd.

BioCentury — Newly launched Pivotal bioVenture Partners plans to join syndicates funding early stage companies until it finishes building out its team and can begin to lead investments and play a larger role in the company-building process. The firm closed its debut fund on March 16 at $301 million.

BioCentury — To generate interest from LPs in their inaugural healthcare fund, the duo behind Biomatics Capital Partners personally invested in eight companies that would eventually form the core of the fund's portfolio ahead of a $70 million first close in 2016.On March 15, Biomatics announced the fund's final close at $200 million, exceeding its $150 million target.

BioCentury — Drawn by CRISPR's potential to address the organ transplant shortage with safer xenotransplants, Biomatics Capital Partners and Arch Venture Partners co-led a $38 million series A round for eGenesis Inc. intended to fund the company through preclinical proof of concept by YE19.

BioCentury — While investors were quick to bid up shares of La Jolla Pharmaceutical Co. after LJPC-501 met the primary blood pressure endpoint in a Phase III trial in distributive shock, at least some physicians are questioning what utility the drug will have because the study wasn't powered to show a mortality benefit.