FORE Biotherapeutics closes upsized $67.4 million Series D-2 extension financing

Genmab posted two fresh oncology trial readouts, including a Phase 3 win for epcoritamab in newly diagnosed diffuse large B cell lymphoma. The EPCORE DLBCL 2 trial, run with AbbVie, reported that epcoritamab plus R CHOP cut the risk of disease progression or death by 51% versus R CHOP alone in patients with higher risk DLBCL. Separately, the Phase 1/2 RAINFOL 01 study of rinatabartsesutecan, or Rina S, in platinum resistant ovarian cancer reported a 45.9% confirmed objective response rate in a heavily pretreated population, with a median duration of response of 12.1 months and no clear safety signals around eye toxicity, peripheral neuropathy, interstitial lung disease or stomatitis. The trial headlines arrive after a strong run in the shares, with the DKK2,482.0 price coming alongside a 31.18% 90 day share price return and a 23.67% year to date share price return, while the 5 year total shareholder return is down 8.75%.

Betta Pharmaceuticals announced that the clinical trial application for BPI-572270 capsules, submitted by its wholly-owned subsidiary Jingyao Biotech, has been approved by the US FDA for the treatment of advanced solid tumors. The drug is a self-developed pan-RAS non-degrading molecular glue inhibitor, and preclinical studies have shown strong inhibitory effects on various RAS-mutant tumor cells. The company cautioned that new drug development involves long cycles and substantial investment, and that clinical trial and approval outcomes remain uncertain, with no significant impact on near-term performance.

Multiply Labs announced a $75 million Series B round, bringing its total capital raised to over $100 million since its founding in 2016. The round was led by Dr. Patrick Soon-Shiong with NantWorks, joined by new investors AstraZeneca, Lingotto, Teradyne, and Strange Ventures, alongside returning investors Casdin Capital, Lux Capital, Fifty Years, Ora Global, and Founders Fund. The San Francisco-based physical AI company automates biologics manufacturing with robotic clusters that integrate into existing instruments and processes without requiring a new facility, delivering a 74% reduction in cost per dose and up to 100 times more throughput than manual manufacturing. Beginning with cell and gene therapy and now expanding to advanced biologics including antibodies, viral vectors, and mRNA, the platform is owned and operated directly by pharmaceutical and biologics companies rather than run as an outsourced service. Multiply Labs will use the capital to expand manufacturing capacity, accelerate its product roadmap, and scale its team across engineering, regulatory, and commercial functions as it moves from clinical-stage deployments toward commercial-scale production.