Finance Watch: Mega-Round Mania As RNA Therapeutics, Gene Editing Attract VC Cash
ReNAgade Raised $300m; ElevateBio Closed $401m Series D
Private Company Edition: Two companies raised multiple hundreds of millions of dollars each helping to keep the number of $100m-plus venture capital mega-rounds on the rise in May. Also, Ascend raised $132.5m to make gene and cell therapies, and Nido emerged with $109m for neurological diseases.
You may also be interested in...
ReNAgade Emerges With $300m To Pursue Extra-Hepatic Delivery Of RNA Medicines
ReNAgade Therapeutics came out of stealth mode with $300m to fund its proprietary technology for delivery of RNA medicines – including coding, editing and gene insertion modalities – beyond the liver.
Finance Watch: Mega-Rounds Make A Comeback, But Will VC Funding Totals Rise Too?
Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.
Finance Watch: Lucky Few Raise Cash While Many Public Biotechs Cut Costs
Public Company Edition: ImmunoGen received the first $75m under a $175m term loan, while Protagonist raised $100m in a follow-on offering, but companies with bankruptcy filings and job cuts outpaced those accessing new capital by a wide margin in late March and early April.