Cash is flooding into biopharmaceuticals, but regenerative medicine companies in particular have raked in large sums of cash – in part, because of the high upfront investment in manufacturing, but also because of the potential to cure intractable diseases. In 2020, that meant a record-breaking $19.9bn was invested in cell and gene therapy developers globally – double the $9.8bn raised in 2019 and substantially higher than the prior record of $13.5bn in 2018 – according to a new report from the Alliance for Regenerative Medicine (ARM).
Finance Watch: Cell And Gene Therapy Firms Raised Nearly $20bn In 2020
Annual ARM Report Shows $19.9bn Raised Globally, A New Record
Private Company Edition: Venture capital mega-rounds continue a brisk pace with machine learning-based drug discovery firm insitro and gene therapy developer Graphite Bio among recent $100m-plus deals. Also, Argobio raised €50m to fund five start-ups in Europe.
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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.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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After failing a Phase II monotherapy study in early Parkinson’s, Cerevance will focus on adjunctive therapy without abandoning the monotherapy concept.
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The firm has lofty ambitions for the aldosterone synthase inhibitor to treat hypertension and kidney disease.
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Supply chain disruption fears at the start of the COVID-19 pandemic caused drug over-ordering. Imminent tariffs on drugs may have had a similar effect on pharma sales in Q1 earnings season.