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 September, such as Mirador Therapeutics, Inc.’s $400m financing, the largest VC round in the first quarter. (Also see "Venture Capital Fundraising Rebounds In Q1 As Mega-Rounds Dominate" - Scrip, 12 April, 2024.) In Q2, Evaluate data showed that venture financings continued a quarter-over-quarter rise that began in Q1, with $100m-plus mega-rounds rising from $4.09bn to $5
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