Finance Watch: Cell And Gene Therapies Buck 2019’s Venture Capital Trend
Private Company Edition: VC deals are surging this year for cell and gene therapy firms, according to ARM’s third quarter report. Also, Vivo Capital and the CF Foundation plan to invest nearly $2bn in health care and life science opportunities, and Akeso completes $150m series D.
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Private Company Edition: While venture capital invested in the industry dropped in 2019, the number of deals rose as investors funded more early-stage VC rounds. Money continues flowing to large deals as well, including $105m for ALX Oncology and $98m for CANbridge.
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.
The deal worth up to $576m gives Merck what Calporta founding investor Avalon believes is the most advanced program targeting TRPML1, a lysosomal ion channel implicated in neurodegenerative diseases when the lysosome stops clearing debris from cells.