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

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

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.

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...