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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Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.
Just nine drug developers went public in the US during the first quarter of last year, but with the industry boosted by pandemic response, 32 biopharma companies launched IPOs in Q1 of this year.
Public Company Edition: Instil Bio, Connect Biopharma, Finch Therapeutics, Gain Therapeutics and four heath care-focused SPACs launched initial public offerings; Endo raised $1.3bn via note sale; and Rubius Therapeutics, Solid Biosciences and others priced follow-on offerings.