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Finance Watch: Latest Slate Of VC Mega-Deals Led By China-Based Biopharmas

Chime Biologics, AffaMed, Brii Closed $100m-Plus Rounds

 
• By Mandy Jackson

Private Company Edition: The astonishing pace of venture capital investment in drug development continues with another $1.5bn in financings of $100m or more, including $152m for Pyxis and $126m for Omega. New VC funds also continue to launch, including RiverVest’s fifth fund, totaling $275m.

Finance Watch

Biopharmaceutical companies raised $1.5bn in 11 venture capital mega-rounds of $100m or more during the last week and a half of March. Including VC and other financings under $100m, 35 privately held drug makers raised $2.6bn between 18 and 31 March.

Many firms in China have benefitted from the surge in venture funding during the past few years and that trend...

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Finance Watch: Scorpion Spinout Antares Launches With $177m For Precision Medicines

 
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Private Company Edition: Antares’ lead asset will enter the clinic in 2026 after Lilly committed up to $2.5bn for Scorpion’s Phase I/II PI3Kα inhibitor STX-478. Also, Amplify raised $200m for its first biotech VC fund and Mosanna raised an $80m series A round, among other financings.

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• By Mandy Jackson

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

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