Capstan Therapeutics Inc. and Engrail Therapeutics are among the latest companies to raise venture capital mega-rounds of $100m or more as the deluge of large private financings early in 2024 coincides with a somewhat optimistic market for initial public offerings – one of two off-ramps for VC investors.
Mergers and acquisitions – the other off-ramp for venture capital firms and their limited partners – did not increase in number in 2023, but deal valuations rose and activity picked up toward the end of the year, buoying investors that back both private biopharma companies and public firms. (Also see "Fewer Acquisitions And Alliances In 2023, But Valuations Increased" - Scrip, 5 February, 2024
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