VC Roundup: Infectious Disease Startup Snags $150m And Former Biogen CEO Scangos
ARCH invests $150m in the Scangos-led Vir Biotechnology; Flagship recruits ex-Novartis executive Epstein; Versant closes a new $400m fund; and $601.1m in 11 other recent VC funding rounds.
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Vir began pursuing immunological approaches to infectious diseases three years before its COVID-19 work. Its hepatitis B, flu and HIV clinical trials are delayed about six months due to coronavirus-related issues.
BioNTech's $150m offering, after a prior large venture capital financing, gives it the third-largest market cap for a newly public drug developer in the US. Also, Innovent raises $300m in Hong Kong offering, Heron leads US follow-ons and Five Prime restructures to save $20m annually.
EVP Michael Ehlers swaps public company scrutiny for early-stage, venture-funded opportunities at Apple Tree Partners and Limelight Bio, while CMO and longtime Biogen executive Alfred Sandrock reclaims R&D oversight role.