Finance Watch: Alternative Funding Sources Crucial Even Amidst A Biopharma VC Boom

Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.

The California Institute of Regenerative Medicine (CIRM), which uses $3bn worth of state bond revenue to provide grants and loans for the development of stem cell therapies, approved a $6.2m funding award for Angiocrine Bioscience Inc. on Dec. 13, marking the 50th clinical trial supported by CIRM.

San Diego-based Angiocrine, a privately held cell therapy firm, is one many companies globally that continue to pursue alternative funding sources despite record-breaking levels of venture capital investment occurring in the biopharmaceutical industry. (Also see "Finance Watch: VC Tally Hits $14.5bn For 2018, Beating 2017 With A Quarter Left To Go" - Scrip, 16 October, 2018

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