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Finance Watch: $1.32bn In New Biopharma VC Financings As Year-End Approaches

Year-End Flurry Of Deals In Full Swing

 
• By Mandy Jackson

Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.

Finance Watch Private Company
• Source: Shutterstock

The end of each year brings a surge in venture capital funding announcements as biopharmaceutical companies and investors seek to close as many deals as possible before everyone takes off for the December holidays, and 2023 is no different from any other year. During the three weeks starting 21 November and ending 9 December, 19 drug developers announced VC financings of $20m or more totaling $1.32bn.

Topping the list of recent VC deals were three companies with mega-rounds of more than $100m each – FogPharma with a $178m series D round, Apogee Therapeutics, LLC with a $169m launch that includes a $149m series B round, and Escient Pharmaceuticals Inc. with a $120m series C. Strand Therapeutics Inc

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