Finance Watch: VC Tally Hits $14.5bn For 2018, Beating 2017 With A Quarter Left To Go
US VC investment in biopharma totaled $14.5bn in the first three quarters of 2018, exceeding the full-year 2017 sum of $11.9bn. UK biotech cash also is rising, benefitting new companies like Sitryx.
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Finance Watch has noted $1.1bn worth of venture capital deals so far in 2019. Meanwhile, public offerings continue to be muted by the US government shutdown, though Revance and others sold shares. Also, Five Prime and others reveal layoffs and strategic shifts.
The company isn't relaying any details about its drug targets, but will use the mega-round to take its first candidates into the clinic. Also, RiverVest raises a $184.4m VC fund, Annexon closes a $75m Series C, Takeda lists its stock in the US, and Aptorum goes public.
Lim, CEO of Ignyta when it was sold to Roche earlier this year, has moved on to the start-up Erasca with $42m in Series A venture cash to develop "precision oncology" drugs.