Finance Watch: Sana Reveals Cash Haul Of $700m In Under Two Years

Private Company Edition: The allogeneic cell therapy developer founded by former Juno execs launched in January 2019 without disclosing its initial funding. Other recent venture capital mega-rounds include $192m for Orca, $170m for C4, $118m for Shattuck and $102m for GreenLight.

Finance Watch

Sana Biotechnology Inc. came out of stealth mode semi-secretively in January 2019 with former Juno Therapeutics Inc. executives on board to develop allogeneic cell therapies. But while there were hints that it had raised substantial initial funding, Sana did not reveal until 23 June that it received the last tranche of its series A financing, bringing the total to a whopping $700m. 

The Seattle-based company was assembled initially with intellectual property from Flagship Pioneering – a founding Sana investor alongside ARCH Venture Partners – and three different universities with the goal of developing off-the-shelf therapies in which donor cells would be

In addition to Flagship, ARCH and F-Prime Capital, Sana now is revealing additional investors, including the Canada Pension Plan Investment Board, Baillie Gifford, Alaska Permanent Fund, the Public Sector Pension Investment Board, Bezos Expeditions, GV,

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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

 
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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.

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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

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

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