Tuesday, August 7, 2018

Samumed Raises $438M

San Diego-based Samumed, a biopharmaceuticals firm focused on treatments for Alzheimer's and other diseases, has raised a huge, $438M funding round, the company said on Monday. Source of the funding was not announced. Samumed says it has now raised $650M in total equity. The pre-money valuation for the funding round was $12 billion, accoridng to the company. Osman Kibar, Ph.D. is CEO of Samumed. Samumed says its small molecule drug platform has the potential to reverse the course for severe and prevalent diseases.