Finance Watch: Biopharma VC Deals Hit New Record Of $27.4bn In 2020
Prior Record Was $19.8bn In 2018; 2021 Off To A Strong Start
Private Company Edition: Last year set a high bar for venture capital, but this year is starting strong. Recent VC mega-deals include $500m for EQRx and $230m-plus for Tessera Therapeutics. Also, BioGeneration Ventures closed a €140m ($170.2m) fund and NewAmsterdam raised a $196m series A.
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ARM counts $14.1bn in fundraising in the first half of 2021, up 35% from mid-year 2020. Also, Chinese mRNA players Abogen raises a $700m series C venture capital round, Pfizer prices a $1bn sustainability bond and while IPOs slow in the US, China and South Korea see new first-time offerings.
EQRx has raised at least $750m since it launched in January 2020 and will have $2bn to fund its ongoing development of low-cost drugs after merging with a special purpose acquisition corporation.
Private Company Edition: With $8.9bn raised in the second quarter, venture capital investment in biopharma companies reached its second highest quarterly total to date – behind only Q1 of this year. Also, Nimbus Therapeutics raised $105m and European drug developers get in on the VC action.