Finance Watch: Flagship Raises $824m To Speed Growth Of Its Portfolio Companies
Private Company Edition: The VC firm and start-up factory Flagship Pioneering brings in new cash for existing investments, tapping into investors eager to back "big, bold platform ideas" in the life sciences. Also, new financings include $100m-plus deals for Harmony and Beam.
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Private Company Edition: The allogeneic cell therapy developer founded by former Juno execs launched in January 2019 without disclosing its initial funding. Other recent venture capital mega-rounds include $192m for Orca, $170m for C4, $118m for Shattuck and $102m for GreenLight.
Emerging Company Profile: The start-up, funded by Flagship Pioneering, is developing small molecules across multiple therapeutic areas, based on a discovery platform exploring the microbiome, gut immune system and enteric nervous system.
Blueprint and Zymeworks raise $300m-plus in follow-on offerings. Also, Arcutis, Black Diamond and Annovis bring the 2020 US IPO count to four; Spring Bank, Surface Oncology and Decibel reveal strategic shifts; and Harmony’s $200m in venture debt leads recent VC deals.