Venture Funding Deals: I-Mab Is The Mega-Round Leader With $220m Series C
Freeline Therapeutics, I-Mab Biopharma, Kaleido Biosciences and Precision BioSciences raised more than $100m each, but Chinese start-ups continue to bring in some of this year's largest venture capital mega rounds, with $220m in Series C cash to fund development of immuno-oncology and inflammatory disease drug candidates.
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Public Company Edition: Five biopharma firms went public in the US in recent weeks, but Inhibrx withdrew its IPO and Monopar postponed its offering. Also, Tot Biopharm launched an IPO in Hong Kong, while Epizyme sold royalties and issued debt to raise up to $270m.
While other venture capitalists are curbing their efforts in medtech, Wellington Partners intends to maintain its support for the sector earmarking about half of its new €210m WPLS-V fund for European medtech opportunities.
There have been eight US biopharma IPOs in 2019, but only three are trading above their launch price – a big change from just three days ago.