New CNS-Focused Biotech Cerevance Launches With Takeda Backing
Takeda invests in CNS startup, Cerevance, as part of its externalized R&D strategy.
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While COVID-19 shocked global financial markets and is expected to impact biopharma fundraising, investment in drug developers continues, including through two new venture capital funds totaling nearly $2bn. Also, Coherus issues debt to fund deals and MOMA launches with $86m in VC cash.
Private Company Edition: The Dementia Discovery Fund started in 2015 with plans to raise $200m to fund early-stage development of disease-modifying drugs, but recently closed its fundraising with $350m in commitments. Also, Kaleido's $101m Series C is among three recent $100m-plus rounds.
Newly renamed Flagship Pioneering has raised a $285m venture capital fund to remain invested in portfolio companies as they grow. Also, 12 new and growing biopharma companies raised $657.15m.