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A review of second quarter biopharma start-up deal-making and financing activity from Strategic Transactions showed a quarter-over-quarter drop in dollars raised despite multiple mega-rounds, including $100m-plus VC deals for SpringWorks and Fusion.
Private Company Edition: ARM's Q2 report shows a 38% decline in financings, but venture capital and upfront fees from deals were robust. Also, Servier raises $405m in the US, Frequency closes a $62m series C and VenatoRx accesses US government cash.
Astellas adds a large-market drug candidate to its regenerative medicine portfolio, while Frequency Therapeutics almost doubles its fundraising to date. It traded ex-US rights to hearing loss candidate FX-322 for $80m up front and up to $545m in milestone fees plus royalties.
Private Company Edition: Venture capital for emerging therapeutics companies in the US and in ex-US regions reached all-time highs in 2018. Also, Alphamab raises $60m Series B, three new VC funds launch and FLX changes its name to RAPT.
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