Finance Watch: Erasca Raises $200m As VC Mega-Rounds Continue
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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Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.
Private Company Edition: VC mega-rounds boosted the Q1 2021 total. Also, new funds from Versant, The Column Group and Rapha Capital keep cash flowing into biopharma; up to $525m is invested in Exscientia; and Arch Oncology and Boundless Bio raised $105m each, while Forge brought in $120m.
Former Ignyta CEO’s well-funded Erasca obtained its first clinical-stage precision oncology candidates from NiKang and Asana, eyeing a first-in-class approach to RAS/MAPK-driven cancers.