Venture capital mega-rounds of $100m or more are driving record levels of VC investment in biopharmaceutical companies, and these big financings have not taken a summer break.
Finance Watch: A Summer Slowdown? Not For Venture Capital Mega-Rounds
Eight Firms Raised $100m Or More Since Last Week Of July
Private Company Edition: The latest $100m-plus VC financings include $112.5m for PepGen, Deep Genomics’ $180m series C round and a $166m series D for Rakuten Medical. Also, Lumira Ventures raised a $220m fourth fund and will manage a separate $35m fund backed by Angelini Pharma.
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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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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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