Financing
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Finance Watch: Mega-Rounds Around The World As VCs Spread The Wealth
Private Company Edition: After US-based Alumis and Sionna raised $259m and $182m, respectively, in series C rounds, Tubulis in Munich, Germany brought in €128m ($138.8m) in series B2 cash, while Rakuten – with offices in the US, Europe and Asia – closed a $119m series E round.
Finance Watch: The Biggest Biopharma IPO Of 2024 May Not Happen In The US
Public Company Edition: Galderma proposed pricing for its $2.6bn Swiss public market debut. Also, Apogee and Akero lead follow-on offerings with $483m and $366.9m, respectively, and Lexicon’s private placement brings in $250m, while Spruce reveals a 21% workforce reduction.
Mission Therapeutics Raises Funds For Parkinson’s Disease Protein Modulator
New funding for the UK biotech reflects growing interest in finding ways to remove dysfunctional proteins from the body.
Tubulis Touts Transatlantic Plans As Cash Rolls In
The German biotech is benefitting from the heat in the antibody-drug conjugate space and has concluded an upsized series B2 financing for €128m.
Sernova Seeks Cash And A Partner To Move Type 1 Diabetes Cell Therapy Forward
The company’s CEO Cynthia Pussinen joined the company last year and talked to Scrip about her plans to advance a cell therapy for type 1 diabetes.
Quick Listen: Scrip's Five Must-Know Things
In this week's podcast edition of Five Must-Know Things: Bayer won’t split, for now; Pfizer’s next-gen ADC pipeline; oncology dominates investment but other areas grow; goodbye NASH, hello MASH; and BMS’s CEO gives his views on India.
Finance Watch: Kronos Reveals Second Round Of Job Cuts In Five Months
Restructuring Edition: Kronos restructured and cut 19% of its workforce in November and now will cut 21% of its remaining jobs. Also, Gritstone cut 40% of its workforce after missing out on an expected external funding payment and Kineta implemented a 64% workforce reduction.
Hopes For A ‘New Era’ In UK Biotech Financing With Pension-Backed Fund
Backed by the UK government and the Phoenix Group, the initial £200m fund is aimed at convincing pension funds to invest in the higher-risk, higher-reward life sciences sector.
MindMed Ready To Take LSD Therapy Into Phase III For Anxiety
Mind Medicine’s LSD product MM120 will move into Phase III in the second half of 2024 after it showed efficacy in generalized anxiety disorder out to 12 weeks with a single administration in Phase IIb.
IPO Numbers Dipped In 2023, But 2024 Is Off To A Good Start
There were 21 biopharma initial public offerings in 2023, including J&J’s consumer health spin-out Kenvue, versus 22 in 2022. However, IPO proceeds are rising in 2024.
Three Chinese Biotechs Bag Late-Stage VC/PE Funding In February
Evopoint, I-Mab Biopharma (Hangzhou) and MAXVAX extended their funding with series E and C rounds, respectively, in February, amid signs that biotech investor sentiment in China may be recovering.
Akari, Peak Bio Hatch Merger Plan To Survive Together
Deal snapshot: Akari, which has stayed afloat through small financings in recent years, and Peak Bio, after going public via the SPAC route in 2022, will merge as equals and then prioritize their pipeline.
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