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Finance Watch: NGM Reemerges With $122m During Post-July 4th VC Mega-Round Boom

Explosion Of $100m-Plus Financings In July

 
• By Mandy Jackson

Private Company Edition: After its acquisition by an investor earlier this year, NGM Bio has raised a $122m series A round, adding to a recent surge in large venture capital financings. Also, Vanqua Bio disclosed $45m in new funding and Renalys completed a $38.4m series A.

Finance Watch Private Company
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NGM Biopharmaceuticals, Inc. added its name to a long and growing list of biopharmaceutical companies raising $100m-plus venture capital mega-rounds with a $122m series A round announced on 17 July. It is NGM Bio’s first financing since February, when it announced that its largest shareholder, The Column Group (TCG), would acquire the then-public company and take it private.

Post-July 4th VC Mega Rounds 

Billions of venture capital dollars have surged into biopharma firms during the first few weeks of July, including Flagship Pioneering’s announcement that it has raised $3.6bn for two new VC funds. For details on this and other large post-fourth of July VC deal announcements, see these Scrip articles:

Flagship Plans To Distribute New Fund To About Two Dozen Companies

Cardurion Raises $260m To Advance First-In-Class Cardiovascular Drugs

Scorpion Sinks Pincers Into $150m Funding Round For PI3K Inhibitor

ASCO Data Are Catalyst For $150m CatalYm Cash Boost

ADC-Focused Myricx Moves To Next Phase With £90m ($114m) Cash Injection

Investors Back Asceneuron With $100m To Rival Lilly In Alzheimer’s Oral Drug Class

Mega-rounds have driven a surge in venture capital fundraising in 2024, with biopharma companies raising $6.53bn in the first quarter...

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