Finance Watch: Lightstone Ventures Closes $375m Fund To Back Early Stage Biotechs
General Partner Jason Lettmann Expects IPO Exits To Continue
Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.
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Also, Cytovia will go public via SPAC merger, Nkarta capitalized on its positive early NK cell therapy data with a $230m offering, and venture capital mega-rounds include $220m for Reify, $110m for Satellite Bio and $100m for OMass Therapeutics.
Speakers on a panel about health care deal-making discussed the influx of capital into biotech during the past two years, how that has impacted deal-making and whether those changes will last.
Named after a remarkable self-regenerating salamander, the new San Francisco biotech aims to unlock the potential of B-cells to be “in vivo protein factories”.