Finance Watch: 14 Biopharma Companies Raise $1bn From VC, Canadian Government
G2 Bio Launches With $200m, Canada Invests $164m In Resilience
Private Company Edition: More $100m-plus mega-rounds means another billion-dollar week for venture capital deals, including financings for G2 Bio, Hummingbird and Numab. Also, BioTheryX brings in $92m, Vedere launches with $77m and Eliem raises $60m two months after launching with $80m.
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Biotheryx’s Initial Alliance Pairs With Incyte On Targeted Protein Degradation
Biotheryx will deploy its PRODEGY platform to discover candidates against novel cancer targets selected by Incyte. The deal occurred the same day as a Merck/Proxygen protein-degradation alliance.
Finance Watch: Public Market Opens Up Enough To Let An IPO Through
Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.
Finance Watch: Resilience Raises $625m, Bringing New Cash To $1.2bn
The biomanufacturing firm National Resilience has raised more than $2bn in venture capital and millions more in fees from government and industry contracts since 2020. Also, Code Biotherapeutics raised $75m in series A cash, Concert grossed $66.4m and Amarin is cutting US jobs.