Pinnacle, Immutrin move toward clinical goals with new VC rounds: Finance Report

Cross-border company Pinnacle and U.K.-based Immutrin each raised more than $80 million this week to advance programs toward clinical proof of concept, among other private and public companies drawing fresh funding.

VCs led by LAV and Foresite Capital supplied $89 million in series B money to Pinnacle Medicines Inc., a developer of oral peptide medicines based in Shanghai and Doylestown, Pa. The start-up’s platform harnesses computing power to drive molecule design — an area of particular interest to Foresite — using molecular simulations and artificial intelligence, with the goal of achieving efficacy on par with biologics in orally-dosed therapies...