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Finance Watch: Arbor, Acrivon, Bit.Bio Close VC Mega-Rounds

Mission BioCapital Raises $275m For Fund V

 
• By Mandy Jackson and Kevin Grogan

Private Company Edition: Arbor is developing drugs based on proprietary gene editors, Acrivon is applying proteomics to precision cancer therapies, and bit.bio is producing differentiated cell products. Also, Marengo launches with $80m, Sanofi invests up to $60m in Gyroscope and Shasqi raises $50m.

Finance Watch Private Company

Arbor Biotechnologies, Acrivon Therapeutics Inc. and bit.bio are the newest members of the biopharma venture capital mega-round club after the companies announced series B rounds totaling $215m, $100m and $103m, respectively.

Mega-rounds have helped start-ups and growth-stage companies build out innovative drug discovery and development platforms while advancing multiple therapeutic candidates at once. The $100m-plus rounds also helped 2021, as of the third quarter, break the record set in 2020 for venture capital fundraising by biopharma companies

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