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Finance Watch: Summer Ends, But Fundraising Heats Up For ArsenalBio, Vaxcyte

 
• By Mandy Jackson

ArsenalBio closed one of the largest VC rounds so far in 2024, raising $325m in series C funding, while Vaxcyte grossed $1.3bn in a follow-on offering. Also, Circle Pharma closed a $90m series D round and Jazz priced an $850m note sale, but IN8bio revealed a prioritization plan and job cuts.

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• Source: Shutterstock

Summer may be over, but the heat is rising in the world of biopharmaceutical financings with some big private and public company financings announced just after the 2 September Labor Day holiday, the de facto end of summer in the US. Arsenal Biosciences, Inc. (ArsenalBio) unveiled one of the largest venture capital financings so far this year, to fund clinical development of its autologous programmable chimeric antigen receptor T-cell (CAR-T) therapies for solid tumors.

Only a handful of VC rounds in 2024 have been larger than ArsenalBio’s $325m series C financing announced on 4...

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