Venture Funding Deals: Vedanta Raises More Cash To Advance Microbiome Candidates
Cancer drug-developer Black Diamond emerges from stealth mode with Series A and closes Series B in the same month, while aging-focused Juvenescence closes its initial tranche and looks complete Series B by the end of the quarter.
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Arteaus sells royalty stream from Lilly's Emgality giving investors a $260m payday. Also, Pfizer spin-out SpringWorks nabs another $125m, Arch Oncology and Prevail Therapeutics close $50m Series B rounds, and Karuna's recent financing grows to $80m.
The company emerged in 2017 with $135m to spin out rare genetic disease-focused subsidiaries. Now with 18 start-ups and two near-term filings for drug approvals, BridgeBio will fund existing programs as they progress and continue to buy new assets.
Two $1bn+ alliances were penned in October. Financing reached $7.7bn in biopharma, $636m in device, and $140m in diagnostics.