Finance Watch: Erasca Raises $200m As VC Mega-Rounds Continue
Executive Summary
Private Company Edition: In addition to Erasca’s big series B round, Mabwell reportedly brought in $278m. Also, Kurma, Venrock and Section bring the number of new VC funds in April to eight, raising $5.89bn, and former AveXis execs launched the new gene therapy venture Taysha.
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Finance Watch: Ascendis Spins Out Ophthalmology Firm Eyconis With $150m
Private Company Edition: Publicly held Ascendis outsourced its preclinical AMD program to private Eyconis. Also, Innovation Endeavors revealed a new $630m VC fund and Mirae raised $50m for its first life science fund, while Accent, Comanche and Tr1X each brought in $75m rounds.
Finance Watch: Aiolos Launches With $245m Series A; OrbiMed’s New Funds Total $4.3bn
Private Company Edition: Quarter-over-quarter increases in venture capital have been bolstered by fewer but larger rounds, like the recent $245m series A for Aiolos. Also, OrbiMed raised $4.3bn across three new VC funds, Rampart completed an $85m series A and Atom Bioscience raised an $83m series D.
Avalyn Raises $175m To Fund Inhaled Versions Of Pulmonary Fibrosis Drugs
Financing Snapshot: Seattle biotech claims its targeted, inhalable versions of Esbriet and Ofev, both oral IPF drugs, may offer better tolerability and stronger efficacy than established products.