Finance Watch: Two New VC Funds Raise $955m To Back Life Science Companies
Illumina Ventures Brings In $325m; Jeito Garnered $630m
Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.
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Public Company Edition: Xilio, Ventyx, MiNK and Context went public in the US and later traded at or above their initial public offering prices. Also, Sarepta raised $500m and Relay grossed $350m in new offerings, while Oncopeptides, Esperion, Zymergen and Ardelyx reorganized and cut jobs.
The VC firm is making the most of a surge of capital from new and established investors who believe in the promise of European biopharma start-ups.
Precision is looking ahead to market access challenges for its off-the-shelf CAR-T and in vivo gene-editing therapies.