Finance Watch: Among Multiple Mega-Rounds, Revolution Raises $100m For RAS Programs
Private Company Edition: Revolution Medicines follows its Sanofi partnership and Warp Drive Bio buyout with a series C venture capital round to fund its RAS pathway inhibitors in cancer. The financing came during a boom in $100m-plus VC financings, including BioNTech's $325m series B.
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Revolution has just one drug in the clinic, but its focus on KRAS excited IPO investors. Also, Deciphera’s $175m offering leads recent follow-ons and Spruce raises $88m in venture capital.
Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.
Public Company Edition: At the J.P. Morgan Healthcare Conference and Biotech Showcase it was noted that the US IPO market is likely to be less active in the second half of the year as election risk chills investment. Also, Apellis leads recent follow-on offerings.