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: Arvelle, insitro, AbCellera and the University of Michigan have something in common – they each attracted more than $100m in venture capital investment.
Developing some of the first coronavirus vaccines and antibody testing kits, venture-backed firms in China have responded fast and partnered actively in the fight against the pandemic, helping them to raise new funds and reach deals. But there have been cautionary tales in other sectors and some investors remain wary.
Coherus BioSciences plans to dip into the financing market once again in order to fuel its operations, which include several biosimilar candidates in late-stage clinical development. However, at the same time, the firm has acknowledged the damage the accelerating COVID-19 crisis could have on operations, if only for a short while.