Finance Watch: Former Alexion Execs Raise $37m To Launch Rare-Disease Focused RallyBio
Private Company Edition: Martin Mackay and two other former Alexion executives co-founded the rare disease start-up in January with a $37m Series A to kick things off. Also, Innovent raises $150m in venture cash, Tmunity adds $35m and Third Rock launches Cedilla.
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Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.
Private Company Edition: I-Mab's $220m Series C round continued the trend of big investments in companies focused on or headquartered in China. Also, Shanghai-based Nuance brought in a combined $35m and European firms dominated recent small financings as US VC deals took a summer break.
April had four VC rounds of $100m or more, including Allogene's $300m to develop CAR-T therapies licensed from Pfizer. Innovent Biologics raised $150m, BenevolentAI brought in $115m and Constellation garnered $100m last month.