Katherine Davis

Chicago

Biotech Deals Reporter, Axios Pro at Axios

Journalist 🗞️ | Covering biotech deals @Axios @AxiosPro 🧬

Articles

Caris Life Sciences targets $5.35B valuation in IPO

2 weeks ago | axios.com | Katherine Davis

Caris Life Sciences, a cancer diagnostics and treatment biotech, is targeting a nearly $5.35 billion valuation in an IPO — 30% less than it was worth in 2021. Why it matters: The public markets may be reopening to biotech, a sector that's been struggling amid a set of macro challenges. Driving the news: Irving, Texas-based Caris set IPO terms Monday, aiming to sell 23.5 million shares for $16 to $18. It would raise $400 million. Caris will trade under CAI on the Nasdaq.
FDA's Makary reassures biotech industry at Jefferies conference

3 weeks ago | axios.com | Katherine Davis

Axios Pro Exclusive ContentFrom left: Mark McKenna, CEO of Mirador Therapeutics; George Tidmarsh, adjunct professor of pediatrics and neonatology at Stanford; and FDA Commissioner Marty Makary. Photo: JefferiesFDA Commissioner Marty Makary's comments bode well for biopharma's prospects of efficiently commercializing new drugs, per Jefferies analysts.
Narcan ingredient maker Antheia raises $56M to expand platform

3 weeks ago | axios.com | Katherine Davis

Antheia, manufacturer of a major Narcan ingredient, raised a $56 million Series C round, co-founder and CEO Christina Smolke tells Axios. Why it matters: The funding comes as the Trump administration mulls deep cuts to federal public health programs. How it works: Antheia has developed a biomanufacturing platform that promises to bypass common supply chain snags and efficiently produce biosynthetic ingredients used to develop a range of essential medicines.
Sanofi buying Blueprint Medicines for up to $9.5 billion

3 weeks ago | axios.com | Dan Primack |Katherine Davis

Illustration: Aïda Amer/AxiosSanofi agreed to acquire Blueprint Medicines, a Cambridge, Mass.-based biotech focused on rare immunology diseases, for $9.1 billion in cash and up to $400 million in earnouts. Why it matters: This is Sanofi's third big buy in 2025, following Dren Bo and Vigil Neuroscience, as it tries to build up a portfolio that's become too reliant on its Dupixent anti-inflammatory drug.
Vivodyne raises $40 million in funding round led by Khosla Ventures

4 weeks ago | axios.com | Katherine Davis

Axios Pro Exclusive ContentIllustration: Aïda Amer/AxiosVivodyne, a San Francisco-based startup using lab-grown human tissues to discover and develop drugs, raised $40 million in a Series A led by Khosla Ventures. Why it matters: Vivodyne says demand is "surging" from pharma clients following the FDA's announced plans to "phase out" animal testing requirements in drug development. Follow the money: New investors include Lingotto Investment Management, Helena Capital and Fortius Ventures.
GlycoEra raises $130M to treat autoimmune diseases

1 month ago | axios.com | Katherine Davis

Axios Pro Exclusive ContentIllustration: Axios VisualsGlycoEra, a Swiss biotech startup developing autoimmune disease treatments, raised $130 million in a Series B round. Why it matters: Immunology and inflammation startups continue to attract investor attention as there's significant unmet patient need. Follow the money: Novo Holdings led the round, and was joined by Catalio Capital Management, LifeArc Ventures, QIA Sofinnova Partners, Roche Ventures and Bristol Myers Squibb.
Fore Biotherapeutics eyes more funding on heels of extended Series D

1 month ago | axios.com | Katherine Davis

Fore Biotherapeutics plans to submit its cancer drug candidate to the FDA for approval in the second half of next year, CEO Bill Hinshaw tells Axios. Why it matters: As the company hits milestones, it will likely need to fundraise again before 2027, Hinshaw says. Driving the news: Philadelphia-based Fore raised $38 million in a Series D-2 on Thursday, growing the D round to $113 million and bringing the company's total funding to about $250 million.
DataHub raises $35M from Bessemer Venture Partners, others

1 month ago | axios.com | Katherine Davis

DataHub, an open-source metadata platform, raised a $35 million Series B round, founders Swaroop Jagadish and Shirshanka Das tell Axios exclusively. Why it matters: The round reflects continued VC enthusiasm for AI, even as investors remain highly selective. Follow the money: The Series B was led by Bessemer Venture Partners, with participation from 8VC, Tru Arrow, SineWave, In-Q-Tel and Zero Prime. DataHub, formerly known as Acryl Data, has now raised $65 million since its inception in 2021.
Biostate AI raises $12M for RNA sequencing data product

1 month ago | axios.com | Katherine Davis

Biostate AI, a generative AI startup using RNA sequencing data, raised $12 million in Series A funding, founders David Zhang and Ashwin Gopinath tell Axios exclusively. Why it matters: The company focuses on patient treatments rather than drug development. How it works: Biostate is building a generative AI service based on RNA sequencing data that predicts how human diseases behave, evolve, progress and respond to different drugs and treatments.
Biotech funding and exits drop in first quarter

1 month ago | axios.com | Katherine Davis

The biopharma industry's correction period continued in the first quarter as investing and exit slumps endure, per a new PitchBook report. Why it matters: The industry-wide challenges could cause the sector to constrict if the tide doesn't change. By the numbers: VC activity in biopharma modalities, which includes cell and gene therapy and small molecule companies, continued to slow in the first quarter, says the PitchBook report published Monday.