Finance Watch: $1.32bn In New Biopharma VC Financings As Year-End Approaches
Year-End Flurry Of Deals In Full Swing
Executive Summary
Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.
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Finance Watch: FogPharma’s Platform Against Unreachable Targets Attracts $145m Series E
Private Company Edition: FogPharma raised $145m for its clinical-stage drug and earlier programs after bringing on former Johnson & Johnson R&D head Mathai Mammen as CEO last year. Also, BlossomHill closed a $100m series B round and Kenai emerged with $82m in series A cash.
Finance Watch: Big Financings Show Investors Remain Interested In Certain Opportunities
A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.
Finance Watch: Vertex Ventures, Chugai Each Raise New $200m VC Funds
Private Company Edition: Vertex Ventures (not Vertex Pharmaceuticals) closed its third fund, with $200m for life science and medical technologies, while Chugai’s $200m corporate VC fund will invest in drug discovery start-ups. Also, K36 closed a $70m series B round and Attovia launched with $60m.