Finance Watch: High Value Of Exits Keep Biopharma VC Deals At Near-Record Levels
Private Company Edition: IPOs and M&A are returning money to investors, who are putting that money into new investments. Also, the mega-push in VC mega-rounds continues, including $105m for Kronos, and RA Capital raises it first VC fund.
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Private Company Edition: Neogene, Escient, ESCAPE, Resolution and Attralus raised a combined $320m in venture capital rounds. Also, large Recursion round could double the size of its pipeline, Korro Bio raised $91.5m and Flagship launched Generate Biomedicines.
The cancer drug developer led by former Gilead R&D head Norbert Bischofberger will start a registrational trial for its recently acquired SYK inhibitor and the first trial for its CDK9 inhibitor.
Two years after Bischofberger left Gilead for Kronos, he called upon former colleagues to acquire a SYK inhibitor program for a genetically defined subset of acute myelogenous leukemia.