Incubator Addition: Arix CIO On Why Fund Added VelosBio To Portfolio
Incubator fund Arix Bioscience has expanded its start-up portfolio to 15 by co-leading a series A financing for - and taking an equity stake in – antibody-drug conjugate specialist VelosBio. CIO Joe Anderson explains why.
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Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest.
While Forbion's new €360m venture capital fund and other investors have emerged to fund private and public companies, BARDA and other US agencies have been active supporters of biopharma firms in recent weeks. Also, KSQ grabs $80m in VC cash and VelosBios brings in $50m.
UK-listed Arix completed its first Venture Investment in Public Equity (VIPE), leading a A$24m (£13.4m) investment in Australian biotech Pharmaxis.