LifeMine locks down $70M 'dream scenario' fungi partnership with GSK—and a fundraising

    GlaxoSmithKline’s scientific champions, Hal Barron, M.D., and Tony Wood, Ph.D., were with LifeMine Therapeutics before the small, fungi-focused biotech knew what it does now. Those early conversations, which began two years ago, have led to today: a $70 million upfront deal  to develop three candidates based on LifeMine’s fungi-based drug discovery engine.

    CEO Greg Verdine, Ph.D., called the GSK deal his “dream scenario” in an interview with Fierce Biotech, as the company announced the deal plus a $175 million series C fundraising. GSK contributed to the round, which was led by Fidelity Management & Research Company, plus existing investors Arch Venture Partners, MRL Ventures Fund and more, as 3W Partners Capital, Invus and others joined as new investors.

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