Nuvation Bio, Inc.
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Private Company Edition: Omega Funds closed its seventh venture capital fund, far exceeding its $500m goal. Also, Anaveon raised a CHF110m ($119.8m) series B round, Ambys brought its series A total to $107m with $47m in additional investment and Mythic launched with a $103m series B round.
EQRx has raised at least $750m since it launched in January 2020 and will have $2bn to fund its ongoing development of low-cost drugs after merging with a special purpose acquisition corporation.
EcoR1 and Casdin/Corvex took their second and third special purpose acquisition corporations public. Also, Ionis sold notes to buy back older notes and fund operations as it cut 70% of Akcea’s staff. In venture capital, ValenzaBio raised $70m and RA boosted Metagenomi’s series A to $75m.
Biopharma was an attractive investment in 2020 and fundamentals are unchanged in 2021, including the pandemic’s work-at-home requirements, which allowed more companies to go public faster.