Finance Watch: Biopharma VC Funding Dips In Q3, Remains Relatively High For Year
With Exits Down, So Are New Financings
Private Company Edition: Third quarter venture capital funding for biopharmaceutical firms fell from Q2, but activity remains near all-time highs year-to-date. Several companies announced VC financings in early October, including Ascidian, which launched with $50m in series A financing.
You may also be interested in...
Private Company Edition: The amount of venture capital investment in biopharma companies has shrunk from quarter to quarter, but the average deal size remained high until the third quarter. Larger rounds from Treeline, Odyssey and Neumora offset a plethora of smaller VC financings early in Q4.
Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts.
The France-based firm has assembled a strong syndicate for its sixth generation of 'BioDiscovery' funds, consolidating its position as one of the leading players in life sciences venture capital in Europe.