Finance Watch: Alternative Funding Sources Crucial Even Amidst A Biopharma VC Boom
Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.
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Lantern, Avidity, Generation Bio and Vaxcyte launched initial public offerings during the second week of June as biopharma continues to intrigue IPO investors. Also, Blackstone invested $350m in Reata's bardoxolone and Checkmate’s $85m series C led recent VC deals.
Private Company Edition: Arvelle, insitro, AbCellera and the University of Michigan have something in common – they each attracted more than $100m in venture capital investment.
Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds.