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Galileo Genomics Raises $9M in Venture Capital, Changes Name

NEW YORK, Dec. 13 (GenomeWeb News) - Galileo Genomics has raised CAN$11.1 million ($9 million) in the second tranche of a Series B financing round, the company said today.

 

The company also announced today that it has changed its name to Genizon BioSciences in order to reflect its recently expanded scope.

 

New investors involved in the financing include Solidarity Fund, which acted as the lead for the round. Existing investors taking part in the Series B financing included HBM BioVentures, MVI, Biofund, and Carnegie, Galileo said.

 

"Over the past year, we have demonstrated that our proprietary genetic approach results in the discovery of multiple key disease-genes in common diseases," John Hooper, president and CEO of Genizon, said in a statement. "We have also expanded our capabilities to include downstream pathway analysis and target identification. ... Our new name reflects this evolution."

The Scan

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A new analysis suggests that most Mycobacterium tuberculosis is spread by aerosols from breathing, rather than by coughing, the New York Times reports.

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NPR reports that the World Health Organization has hired a South African biotech company to recreate mRNA vaccine for SARS-CoV-2 that is similar to the one developed by Moderna.

Slow Start

The Wall Street Journal reports that Biogen's Alzheimer's disease treatment had revenues for July through September that totaled $300,000.

Genome Research Papers on Cancer Chromatin, Splicing in the Thymus, Circular RNAs in Cancer

In Genome Research this week: analysis of bivalent chromatin sites, RBFOX splicing factors' role in thymic epithelial cells, and more.