Finance Watch: Dementia Discovery Fund Exceeds Fundraising Goal By $150m
Private Company Edition: The Dementia Discovery Fund started in 2015 with plans to raise $200m to fund early-stage development of disease-modifying drugs, but recently closed its fundraising with $350m in commitments. Also, Kaleido's $101m Series C is among three recent $100m-plus rounds.
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Blackstone raised $3.44bn of a $4.58bn life science fund, while HealthCare Royalty Partners raised $1.8bn and MVM closed a $325m fund. Also, 20 private drug developers raised $20m or more, but three public biopharma firms unveiled restructuring plans.
The Dementia Discovery Fund is backing the UCL spin-off's efforts to develop therapies that modulate astrocyte function.
Public Company Edition: Grossing $276m, Gossamer would have been the third-largest biopharma IPO in the US if it had launched last year. Also, recent public company financings include debt and follow-on offerings; and two more firms cut jobs – Capricor and Seres.