A biotech emerges from Deerfield's R&D donation plan

Two years ago, Deerfield began writing large checks to prestigious research institutes as part of a strategy to get in on the ground floor of top translational work and, they said, possibly spinout biotechs. One of those biotechs has now emerged from one of the biggest recipients.

Civetta Therapeutics announced $53 million in Series A funding to apply protein degradation technology from the Dana Farber Cancer Institute to cancer and neurodegenerative diseases, among other targets.