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.
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.
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Public Company Edition: Stock valuations are falling due to political, economic and regulatory uncertainty, resulting in fewer large public offerings, more alternative financings and cost cuts. Carisma, Tenaya, BioAtla, Arbutus, Nkarta, Alector and Adaptimmune announced layoffs.
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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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