Biotech VC deals have best-ever quarter: $2.3bn
This article was originally published in Scrip
Biotechnology companies had their best quarter on record for venture capital fundraising with 126 companies bringing in $2.3bn during the second quarter as initial public offerings and acquisitions of smaller firms by big pharma continue to fuel VC investment.
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A steady flow of venture capital into the medical device industry continued in the first half of 2020 despite the novel coronavirus pandemic. While Biopharma companies secured more than $7.5bn in private financings between January and June.
Poseida, Nkarta and Inventiva raised $224m, $252m and $107.7m, respectively. Also, Forbion raised €185m ($208m) of a new €250m fund and Blackstone closed the last $1.2bn of its $4.6bn fund for public and private company deals, and Ascendis led recent follow-ons with a $569.2m offering.