Finance Watch: Sironax, IDRx, OriCell Reveal First VC Mega-Rounds Of August

No Summer Slowdown Yet For Venture Capital Deals

Private Company Edition: Sironax completed a $200m series B round while IDRx launched with $122m and OriCell raised $120m in series C funds, joining end-of-July $100m-plus fundraiser Carmot Therapeutics, which closed a $160m series D financing.

Finance Watch Private Company — • Source: Shutterstock

Venture capital investment in biopharmaceutical companies slowed significantly from the first to the second quarter of 2022 but it remains to be seen if the third quarter will have a similar decline and recent activity – including four $100m-plus mega-rounds within a week of each other – suggests that the summer heat has not melted VC interest in the industry.

The amount of venture capital invested in biopharma firms dropped from $11.6bn in Q1 to $6.1bn in Q2, but the...