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Finance Watch: Biopharma VC Explosion Extends To Tools, Services

Codexis, Casdin Launch Accelerator; Resilience, SomaLogic Raise Mega-Rounds

 
• By Mandy Jackson

Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.

Finance Watch

Biopharmaceutical venture capital fundraising has not slowed its record-breaking pace during the holiday season and the VC boom has extended to life science tools and services, including two recent mega-rounds and the launch of a new accelerator for companies with synthetic biology technologies.

Private biopharma firms raised $19.5bn during the first three quarters of 2020, putting the industry on track to beat the full-year record of $19.9bn raised in 2018. (Also see "Finance Watch: Biopharma VC Deals On Track For A Record-Breaking Year" - Scrip, 16 October, 2020

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