VelosBio CEO: Series A Success Shows Investors Back His ADC Formula
VelosBio's well-backed Series A funding round showed that investors believe his team has identified the right combination of cancer target, linker and payload for creating a successful novel ADC, the biotech's CEO told Scrip.
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In the latest instalment of VC Playbook, In Vivo gets to know Arix Bioscience, a relatively young venture capital firm that went public in 2016. Arix has “has many similarities yet some key differences from a typical venture capital firm,” says the management team.
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.
Arix Biosciences has unveiled three significant changes to the organization, including the appointment of Christian Schetter as co-managing director, which the healthcare-focused venture capitalist hopes will keep its impressive record of biotech investments on track.