Plus, news about Cinclus Pharma, Biophytis and Blanver:
Forbion’s new fund: The Dutch VC firm’s BioEconomy Fund I closed €75 million (about $80 million) to invest in sustainable startups across food, agriculture, materials and environmental tech. — Kyle LaHucik
Cara Therapeutics cuts staff after trial failure: The biotech announced last week that its pruritus drug failed a mid-stage trial, and now the company is cutting its workforce by about 70%, according to SEC filings. It had 55 workers as of March 1. Cara said difelikefalin didn’t show a clinical benefit in the Phase 2/3 KOURAGE trial, leading the company to discontinue the program altogether and look for “strategic alternatives.” — Katherine Lewin
Swedish biotech’s IPO: Cinclus Pharma raised about $68 million in its public debut on Nasdaq’s Stockholm exchange. The late-stage biotech is working on linaprazan, a prodrug of an experimental medicine from AstraZeneca, in gastroesophageal reflux disease. — Kyle LaHucik
Biophytis eligible for €108M in partnership with Blanver: The French biotech is licensing its drug, BIO101, to Blanver in Latin America, including Brazil and Mexico. The treatment is being tested in obesity and sarcopenia. Biophytis could also get double-digit royalties on net sales. — Katherine Lewin