Perceptive And Xontogeny’s Second VC Fund Brings In $515m
Fund II Is More Than Double Their $210m Fund I In 2019
The strategy for both funds is to back companies with a preclinical drug candidate that can be advanced through clinical proof-of-concept with a mid-sized series A round.
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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.
IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.
Genentech will use the X-Chem platform to obtain leads against multiple oncology targets. Lilly partners with Merus on CD3-targeting T-cell therapy candidates.