Hasten, Orbital Raise 2023’s Biggest Venture Capital Rounds Days Apart
Larger VC Rounds Emerge Following Quiet First Quarter
Hasten brought in $315m, and Orbital garnered $270m, but while multiple venture firms have raised large new funds, Q1 saw the lowest amount of biopharma VC fundraising in a single quarter since 2019.
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Finance Watch: VC Mega-Rounds Make A Comeback In March
Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.
Deal Watch: GSK Gets Rights To Spero’s Phase III Antibiotic
GSK takes equity stake in Spero, and global rights to tebipenem except for certain Asian markets. Merck KGaA gets rights to Nerviano’s next-generation PARP inhibitor for cancer.
Another Divestment By Takeda, To China’s Hasten For $322m
Japanese major sheds further non-core assets as it continues to focus on innovation and pay down debt following the Shire acquisition.