Venture Funding Deals: LAM Nabs $58m Series C One Year After $40m Round
Also, Advicenne doubles its fundraising to date; Michael Gilman-helmed Arrakis raises a $38m Series A; Breath spins out with $46m; and Spero gets $51.7m for novel antibacterials.
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Terns raised an $80m Series B round for NASH and cancer programs, while 89Bio launched with a $60m Series A to fund drugs for NASH and other liver and metabolic diseases. Also, Stoke leads recent VC deals with $90m Series B.
With a focus on pediatric neurology and nephrology, Dr Luc-André Granier, founder, CEO and medical director of the 10-year old Nimes, France-based Advicenne Pharma SA, tells Scrip how he is looking to raise €40m from VCs in the next two years, while looking for partners to complete development of and commercialize his market-ready and late Phase II assets.
First quarter VC investments in biopharma set high expectations for the second quarter; Acorda cuts jobs after patent litigation defeat, plus other strategic realignments; no new US IPOs, but Europe has three; and notable follow-on offerings.