Finance Watch: Mega-Rounds Add Up To Another Record Year For Biopharma VC Funding
Maze Therapeutics Closes Latest $100m-Plus Round
Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.
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Public Company Edition: An IPO and three big follow-on offerings hit the market but other public companies revealed plans to cut costs or reprioritize their R&D pipelines, signaling that uncertainty remains.
Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.
The Amsterdam-based group will use proceeds from the financing to progress its pipeline of genetic modifiers in cancer and rare diseases.