Finance Watch: Biopharma Fundraising Impact Expected, But Not Apparent Yet
While COVID-19 shocked global financial markets and is expected to impact biopharma fundraising, investment in drug developers continues, including through two new venture capital funds totaling nearly $2bn. Also, Coherus issues debt to fund deals and MOMA launches with $86m in VC cash.
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Private Company Edition: venBio’s new fund plus Ysios Capital’s recent €216m ($260m) fund adds up to $810m in fresh venture capital for life science companies. Also, Nikang and Esco attracted $200m each in VC investment, Pulmocide closed a $92m series C round and Stablix launched with $63m.
Public Company Edition: Mergers with special purpose acquisition corporations may be heating up, but in addition to the Surrozen and Tango SPAC deals Recursion and Biomea launched initial public offerings. Also, Organon sells $5.6bn worth of notes to fund spinout from Merck & Co.
Private Company Edition: Venture capital mega-rounds continue a brisk pace with machine learning-based drug discovery firm insitro and gene therapy developer Graphite Bio among recent $100m-plus deals. Also, Argobio raised €50m to fund five start-ups in Europe.