Finance Watch: Government Grants Galore And Other New Funding Sources
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.
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Tetraphase's plan to downsize may put the company on the same path as now-bankrupt Achaogen. Also, Bain raises $900m for its second life science fund, Provention calls off post-ADA offering and Oncologie raises $80m series B.
Emerging Company Profile: A platform research company, AbCellera is not developing any drugs, but has seen triple-digit revenue growth each year since 2015 via a model of discovering next-generation therapeutic antibody candidates for partners.
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.