Finance Watch: Biopharma VC Explosion Extends To Tools, Services
Codexis, Casdin Launch Accelerator; Resilience, SomaLogic Raise Mega-Rounds
Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.
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Public Company Edition: Lixte’s small uplisting was the only biopharma initial public offering in the US during Thanksgiving week, but IPOs are ramping up again. Also, LifeSci launched its second SPAC and in follow-on offerings Reata brought in $281m and Intellia grossed $175m.
Further to the US Food and Drug Administration’s own plans to develop a framework to further the use of pharmacodynamic biomarkers and potentially streamline biosimilar development, the FDA has joined forces with US-based specialist SomaLogic, gaining access to its proprietary technology platform.
Pharma pays $50m up front to tap insitro’s in vitro modeling technology, partners with Sensyne Health in blood disorders. Lilly’s COVID-19 partner AbCellera teams with Kodiak in ophthalmology R&D.