VC Funding: Increasing Prior Rounds; New Strategy In Lieu Of An IPO?
This article was originally published in Scrip
Many biotechnology companies raised new venture capital in 2015 within months of registering with the US Securities and Exchange Commission (SEC) to launch an initial public offering, but the trend seems to have reversed course in 2016.
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Private Company Edition: The allogeneic cell therapy developer founded by former Juno execs launched in January 2019 without disclosing its initial funding. Other recent venture capital mega-rounds include $192m for Orca, $170m for C4, $118m for Shattuck and $102m for GreenLight.
Two biopharma IPOs in the US continue streak of (mostly) positive returns; two new European VC funds launch as Irish antibiotic developer raises $65m; and Halozyme, Ziopharm price offerings.
Third Rock closed a $616m venture capital fund, exceeding the firm’s goal of $600m to fund newly formed biopharma companies, following Sofinnova and others with new VC and debt funds for early- to mid-stage life science companies. Also, five drug developers raised $256m in new VC cash.