Venture Funding Deals: BioNTech's Big Money Leads January Financings
BioNTech's $270m Series A round was the biggest start-up financing in January, but sizeable rounds also were raised by Centrexion ($67m), Eureka ($60m) and Pandion ($58m).
You may also be interested in...
Icelandic clinical stage biotech Oculis closes CHF20M ($20.3m) series B financing to advance development of its Phase IIb topical DME drug candidate, relocate to Switzerland and beef up its management team.
German biotech BioNTech has raised $270m in a Series A round as it seeks to broaden its investor base and finance its ambition to be a global, fully integrated pharmaceutical company (FIPCO). In the past nine years the company has secured $950m – including a $180m seed financing in 2008, various research grants ($50m), and upfront and near-term milestone payments from partners ($450m).
Eight $1bn+ alliances were penned in December. Topping the list was a potential $12.4bn deal between Recursion and Roche (and its Genentech subsidiary) involving the identification and development of small-molecule programs in a gastrointestinal cancer indication and in key areas of neuroscience. Recursion is responsible for creating a certain number of PhenoMaps, which are massive relational databases of biological and chemical perturbation phenotypes. For each of the PhenoMaps requested by Roche, Recursion may be subject to an initiation fee up to $250m for sixteen accepted PhenoMaps. Recursion will receive an up-front payment of $150m and is eligible for additional performance-based research milestones. Roche and Genentech have the option to obtain an exclusive license to initiate up to 40 programs, each of which, if successfully developed and commercialized, could yield more than $300m in development, commercialization, and sales milestones for Recursion.