Finance Watch: Venture Capital Drives Record-Breaking Year For Cell And Gene Therapies
$8.2bn In VC Deals Through Q3 Is Up 45% Year-Over-Year
Private Company Edition: Recent VC financings across biopharma sectors include three major mega-rounds as Generate Biomedicines bringing in $370m, followed by $250m for Acelyrin and $125m for Chroma Medicine. Also, Treadwell raised a $91m series B and Ncardia brought in $60m-plus.
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Ipsen has inked a worldwide collaboration pact with BAKX Therapeutics to research, develop, manufacture and commercialize the biotech’s asset BKX-001 as a potential treatment for leukemia, lymphoma and solid tumors.
Private Company Edition: VC deals fell short of the record-breaking level seen in 2018 and financings may slow a bit more in 2020. Also, UPMC and Frazier close new VC funds, and Emendo raises $61m for gene-editing platform.
Pfizer has reiterated its commitment to developing an orphan and rare diseases franchise by acquiring the private US company FoldRx Pharmaceuticals. The two companies did not disclose the financial terms of the acquisition, though Pfizer will make an upfront payment and further payments depending on the achievement of certain milestones.