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Finance Watch: Nkarta, Passage Bio Raise Venture Capital Mega-Rounds

 
• By Mandy Jackson

Private Company Edition: Nkarta, Passage Bio and Achilles kicked off September with VC deals totaling more than $100m each. Also, Repare raised $82.5m and SutroVax won CARB-X cash.

Finance Watch

With their summer vacations behind them, three biopharmaceutical companies returned from the long Labor Day weekend in the US with big funding announcements – Achilles Therapeutics Ltd., NKarta Therapeutics Inc. and Passage Bio each raised venture capital rounds exceeding $100m.

Stevenage, UK-based Achilles announced its £100m ($121.8m) series B round on 3 September with plans to use the windfall for the development of its personalized cancer immunotherapies targeting clonal neoantigens

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More from Financing

Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

 
• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

More from Business

UK-India FTA Could Offer ‘Significant Benefits’ For Generics, Biosimilars

 
• By Dave Wallace

A free trade agreement between the UK and India could offer “significant benefits for the generic and biosimilar sectors,” Medicines UK believes. The off-patent industry association has also suggested further avenues for collaboration between the two governments.

Will Other Major MASH Deals Follow GSK/Boston Pharma?

 
• By Joseph Haas

GSK’s $1.2bn payout for Boston Pharma’s efimosfermin is the first billion-dollar-plus MASH deal in nearly nine years, but several other advanced MASH programs could be positioned for takeout.

Most Favored Nation Policy ‘Lazy, Misguided,’ But US Price Reforms Politically ‘Inevitable’

 
• By Cathy Kelly

Policy experts and pharma executives react to President Trump’s executive order on “equalizing” drug prices between the US and comparable nations at the ISPOR 2025 conference.