Finance Watch: Venture Cash Flows For European Companies
Private Company Edition: A new VC fund emerges for European biopharma firms and a previously announced fund gains a new UK investor. Also, Encoded Therapeutics leads recent venture financings with a $104m series C round.
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Private Company Edition: Several drug developers targeting neurological diseases raised venture capital recently. In addition to Nura Bio, Encoded Therapeutics revealed a $135m series D round. Also, Longwood closed a $170m fund and Flagship launched Omega Therapeutics with $85m.
Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest.
European fund manager Vesalius has closed its third fund with €120m. Its managers believe their strategy of investing in maturing companies has been the key to attracting commitments, including from the European Investment Fund.