Enavate Launches With $300m To Help Drug Developers Get Over Funding Hurdles
Patient Square Is Sole Initial Investor
The firm, helmed by former life science investment banker James Boylan, views the current difficult financial market as the perfect time to offer its expertise and capital to growing companies.
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Private Company Edition: While the tough state of financing for publicly traded drug developers continues, venture capital firms and private biopharma companies revealed billions of dollars in new VC funds and start-up financings, including $100m-plus mega-rounds for Tessa, Alladapt and ImCheck.
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.
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.