It appears that venture capital investment in biopharmaceutical companies still has not been impacted yet by the COVID-19 pandemic, given the number of large financings announced in recent weeks, but it remains to be seen how long the novel coronavirus will keep businesses from operating as usual.
Finance Watch: VC Mega-Rounds For Machine Learning, CNS Disorders, Academic Discoveries
Private Company Edition: Arvelle, insitro, AbCellera and the University of Michigan have something in common – they each attracted more than $100m in venture capital investment.
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Public Company Edition: Stock valuations are falling due to political, economic and regulatory uncertainty, resulting in fewer large public offerings, more alternative financings and cost cuts. Carisma, Tenaya, BioAtla, Arbutus, Nkarta, Alector and Adaptimmune announced layoffs.
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.