Finance Watch: Tessera Secures $300m-Plus To Write New Genes
Flagship-Founded Firm Raised $230m In Prior Round
Executive Summary
Private Company Edition: In other venture capital mega-rounds, Aurion brought in $120m, Sionna launched with $111m and Irish firm Renexxion said a private equity group committed up to $100m in total investment to be made within 36 months of a future public listing.
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Finance Watch: VC Fundraising Dips In Q2, But Mega-Deal Pace Is Strong
Private Company Edition: The amount of venture capital raised by biopharma firms fell but individual companies grabbed a lot of cash, making for a remarkable Q2 relative to pre-pandemic times. Recent Q3 rounds includes Frontera’s $160m series B. Also, Oxford Science Enterprises added €250m to its fund.
Finance Watch: Q1 Biopharma IPOs Shrink To A Fraction Of 2021 Total
Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.
Global Uncertainty Is Impacting Deal-Making, Investment Decisions
Deloitte chief global economist Ira Kalish said in a Biocom webinar that the war in Ukraine increased existing macroeconomic uncertainty, which is keeping businesses and investors from deploying capital.