Venture Funding Deals: Alector, Ascentage, Gossamer And Compass Lead Summer Rounds
Compass raises $132m in Series A as it moves from screening to the clinic, and start-up HotSpot Therapeutics comes out of stealth mode with a $45m Series A financing co-led by Atlas Venture and Sofinnova Partners.
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Finance Watch: Five More Small IPOs Squeeze Through The US Window
Public Company Edition: Genenta, Cingulate, ImmixBio, Bionomics and NeuroSense launched initial public offerings, grossing just $118m between them. But Amylyx, with a recently filed ALS drug, has filed to raise up to $100m. In follow-on offerings, Legend took advantage of ASH goodwill to raise $300m.
Dealmaking Quarterly Statistics, Q1 2023
During Q1, biopharma merger and acquisition deal value reached $51.9bn and drew in $38.1bn in potential deal value from alliances. Device company M&A values reached $4.8bn, while in vitro diagnostics and research tools players’ M&A activity totaled $2.7bn.
Deals In Depth: April 2023
Six $1bn+ alliances were penned in April. Topping the list was a potential $2.55bn multi-year deal between Proxygen and Merck to jointly identify and develop molecular glue degraders against multiple therapeutic targets. The collaboration will allow Proxygen to leverage its platform and advance Merck's understanding in molecular glue degraders to open new avenues in the pursuit of novel therapeutics.