Investment, Funding & Disinvestments

The financing attracted existing investors Deerfield Management, Canaan, Droia Ventures, EcoR1, Euclidean Capital and Regeneron Ventures.

Enthorin will receive an upfront payment and an option exercise fee, alongside milestone payments tied to development, regulatory and commercial progress.

These investments include acquiring minority interests in CHG, expanding Cambridge Hospital in Jeddah by 68 beds, developing a 155-bed integrated care hospital in Riyadh and acquiring Cornerstone.

Formation Bio will serve as the fund’s general partner through a wholly owned subsidiary and has committed its own capital alongside external limited partners.

The programme reviews exceptional requests for treatments that fall outside standard coverage limits, helping address individual medical needs.

The meeting, led by Beginnings Fund Chief Executive Officer Alice Kangethe, focused on implementation arrangements and coordination between the fund and the Ministry of Health.

The deal also gives Ferring access to early-stage cell therapies and research models targeting other women’s health needs.

Under the agreement, Astellas will pay up to US$285 million in upfront and potential future option exercise payments, alongside up to US$1.05 billion in development and commercial milestones.

The closure comes as Teva continues to restructure its business under its Pivot to Growth strategy, launched after Richard Francis became chief executive in 2023.

RadNet could also pay an additional earnout of up to US$210 million if ONRAD achieves specified earnings before interest, taxes, depreciation and amortisation (EBITDA) targets for 2027.