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Biotech Briefs: NorthStar, Matchpoint, TRex Bio, Retension & More 

The latest from small and Emerging Pharma companies featuring NorthStar Medical Technologies, Matchpoint Therapeutics, TRex Bio, Retension Pharmaceuticals, and Lycia Therapeutics. 

For news on the large and mid-sized bio/pharmaceutical companies, see Global Briefs. 

* European VC Firm Forbion Raises $2.6 billion To Establish Two Life-Sciences Funds 
* Investment Firm TCGX Raises $600 M To Establish Asian Life Sciences Fund 
* NorthStar Medical Technologies Raises $165 M for Radiopharma Mfg Expansion 
* Matchpoint Raises $150 M for Small-Molecule Autoimmune & Inflammatory Drugs 
* Trex Files IPO Up To $133 M for T Cell Therapies 
* Retension Files IPO To Raise Up To $43 M for Small-Molecule Hypertensive Drug 
* Lycia Files IPO To Support Pipeline of Protein Degraders   

European VC Firm Forbion Raises $2.6 billion To Establish Two Life-Sciences Funds 
Forbion, a European life-sciences venture capital firm, has raised a total of EUR 2.3 billion ($2.6 billion) to support its two newest funds, Forbion Growth Opportunities Fund IV and Forbion Ventures Fund VIII. The two funds combined will have the capacity to provide financing to approximately 30 portfolio companies, with the first investments already completed. 

Forbion has financed a total of 142 companies, including 37 created by the firm. Its portfolio companies have delivered 21 approved medical products. 

Source: Forbion 

Investment Firm TCGX Raises $600 M To Establish Asian Life Sciences Fund 
TCGX, a healthcare investment firm, has raised $600 million to establish TCGX Asia Life Sciences Fund I, focused on investing in innovative bio/pharmaceutical companies based in Asia. 

The fund is a new investment vehicle that will operate separately from, but in close synergy with TCGX’s Flagship Funds, which focus on biotechnology companies in the US and Europe. 

In connection with the launch of the fund, TCGX is expanding its operations to Asia, with new offices in Shanghai and Hong Kong. 

Source: TCGX 

NorthStar Medical Technologies Raises $165 M for Radiopharma Mfg Expansion 
NorthStar Medical Technologies, a Beloit, Wisconsin-based radiopharmaceutical company and CDMO, has announced a multi-year growth capital facility of up to $185 million with Hercules Capital, an investment firm, to accelerate expansion of NorthStar’s vertically integrated radiopharmaceutical campus, including co-located isotope production and CDMO activities. The financing, including $100 million upfront, will accelerate investment in isotope production and in clinical and commercial drug-manufacturing capabilities. The company is a commercial-scale producer of actinium-225 using electron-accelerator technology.

Source: NorthStar Medical Technologies 

Matchpoint Raises $150 M for Small-Molecule Autoimmune & Inflammatory Drugs 
Matchpoint Therapeutics, a Watertown, Massachusetts-based bio/pharmaceutical company focused on precision covalent medicines, has raised $150 million in Series B financing. The proceeds from the financing will support progression of the company’s lead asset, MPT-062, an oral T cell modulator for inflammatory diseases, to clinical proof-of-concept and advancement of Matchpoint’s broader product pipeline. Matchpoint will also continue progressing an additional program funded by Novartis through the companies’ July 2025 agreement for the development and commercialization of oral covalent inhibitors directed at a transcription factor linked to a number of inflammatory diseases.  

Source: Matchpoint Therapeutics 

Trex Files IPO Up To $133 M for T Cell Therapies 
TRex Bio, a South San Francisco, California-based clinical stage bio/pharmaceutical company focused on autoimmune and inflammatory diseases, is seeking to raise up to $133 million through an initial public offering (IPO) in the US through selling 8.3 million shares of common stock at a target price between $14 ⁠and $16 per share.  

The company’s lead product candidate, TRB-061, is an investigational tumor necrosis factor (TNF) receptor 2 agonist designed to expand and activate regulatory T cells (Tregs) in inflamed tissues. It is currently in a Phase Ia/b clinical trial in healthy volunteers and patients with moderate-to-severe atopic dermatitis (eczema).  

The company’s second product candidate, TRB-071, is an investigational TNF receptor superfamily member 8 agonist designed to both augment tissue Tregs and block immune system inflammatory signaling axes, for inflammatory bowel disease (IBD). TRB-071 is currently in investigational new drug (IND)-enabling studies and, subject to regulatory allowance to proceed, is expected to enter a Phase I trial in the first half of 2027.  

Source: TRex Bio 

Retension Files IPO To Raise Up To $43 M for Small-Molecule Hypertensive Drug  
Retension Pharmaceuticals, a Falls Church, Virgina-based clinical-stage bio/pharmaceutical company focused on hypertension and other cardiovascular diseases, is seeking to raise up to $43 million through an initial public offering (IPO) in the US through selling 3.3 million shares of common stock at a target price between $11 ⁠and $13 per share.  

The company’s lead product candidate, RTN-001, is a once-daily, oral, small-molecule phosphodiesterase-5 (PDE-5) inhibitor designed to reduce blood pressure by potentiating nitric oxide signaling, a mechanism underlying the development and severity of hypertension. 

Source: Retension Pharamceuticals 

Lycia Files IPO To Support Pipeline of Protein Degraders   
Lycia Therapeutics, a South San Francisco, California-based bio/pharmaceutical company focused on protein degraders, has filed plans for an initial public offering (IPO) to support its pipeline of therapeutics designed to degrade disease-causing extracellular proteins (i.e., protein degraders) for treating autoimmune, inflammatory, and allergic diseases.  

The company’s lead candidates are LCA-0061 and LCA-0062, which are both designed with an aim to efficiently degrade immunoglobulin E (IgE) for the treatment of allergic diseases, including food allergies. 

Source: Lycia Therapeutics