The biopharmaceutical industry has been through a tremendous period of company creation, and even with a drop in financings during 2022 and 2023 from record levels of funding in 2020 and 2021, the last two years have not been far off from all-time high levels of investment in drug development. That means a lot of newly created companies have put capital to work against early-stage goals and now they are looking to raise their next round of funding in a financial market that is still in recovery.
Finance Watch: Fresh Cash For Life Science Firms From venBio, Symbiotic
Shinobi Doubles Cash With Japanese Grant
Private Company Edition: Symbiotic Capital emerged with a $600m-plus fund to provide credit for private and public companies, while venBio raised a $528m fund. Also, Outpace Bio raised $144m, Jade Biosciences launched with $80m and MBX Biosciences raised $63.5m.
More from Financing
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.