Over the past couple of months, I’ve spoken to 5 biotech founders who were asked to give up control of their startups while raising their seed rounds.
Several turned to tech VCs, who they find more open to founder-CEOs and willing to take less equity.
Many months ago, STAT got a tip about a data issue at a new RNA medicines company.
The company, Laronde, had raised nearly $500 million on the promise of "endless" RNA, a new technology that could last longer and be more applicable than messenger RNA.
Merck is acquiring startup Caraway Therapeutics, which is developing drugs for neurodegenerative disorders.
The pharma co will pay up to $610 million. Caraway raised a $23 million Series A round in 2018 and has basically lived off of that cash since.