Finance Watch: Third Rock Raises $770m To Launch Up To 12 New Companies
The VC firm known for its new company formation efforts will launch 10-12 biopharma, device and diagnostic ventures with its fifth fund. Also, EpimAb raises a $74m series B round, three more drug developers join the IPO queue and Amicus leads recent follow-on offerings.
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Private Company Edition: The astonishing pace of venture capital investment in drug development continues with another $1.5bn in financings of $100m or more, including $152m for Pyxis and $126m for Omega. New VC funds also continue to launch, including RiverVest’s fifth fund, totaling $275m.
Private Company Edition: VC deals fell short of the record-breaking level seen in 2018 and financings may slow a bit more in 2020. Also, UPMC and Frazier close new VC funds, and Emendo raises $61m for gene-editing platform.
Merrimack's wind-down continues with an activist challenge, but investors approved the Vical/Brickell Biotech reverse merger. Also, the past month's IPO slump may reverse course and HiFiBiO's $67m Series C leads recent financings.