Finance Watch: Happy Holidays For Flagship With A New $618m Fund
Private Company Edition: Flagship ends 2017 with its biggest life science fund yet totaling $618m. Also, December sees a year-end surge in VC deals, including a $100m Series B round for Allakos.
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VC deals totaled $8.3bn in the first half of 2019, but the year's total rose to just $11.5bn at the end of September, reflecting only a $3.2bn third quarter gain. Among recent financings, Cygnal emerged from stealth mode with $65m invested to date.
The newest Flagship spinout says that by drugging insulated genomic domains, it can tune genomic activity without altering DNA to treat and maybe even cure a broad range of diseases.
Public Company Edition: Nine more biopharma companies launched IPOs in the US in July, bringing the 2018 total to 45 first-time offerings – three more than in all of 2017. Bluebird's $632.5m offering leads recent follow-on public offerings.