Finance Watch: Two New VC Funds Raise $755m To Fund Innovation
Longitude Closes $585m Fund; Pureos Raises $170m First Fund
Private Company Edition: Also, Medicxi’s new €200m fund will be reinvested in a portfolio of six life science companies and Silverback more than doubled its 2020 money with an $85m series C round.
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This episode of our weekly podcast covers Cognoa’s development of an app to detect autism spectrum disorder early, Novocure’s customer-focused business strategy during the pandemic, and the new $585m fund created by Longitude Capital to invest in medtech, pharma and biotech.
ES: Public Company Edition: Fifty biopharma companies launched initial public offerings in the US last year and there have been 52 so far in 2020, including Metacrine, Dyne, Athira and COMPASS.
Since Palforzia likely will be the only peanut allergy drug on market for some time, Nestle announces it will pay about $2.6bn to acquire the 80% of Aimmune it doesn’t own.