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Finance Watch: More Than $4.2bn Raised Across Four New VC Funds

Triveni, Nusano Garnered $115m Each For Clinical Assets

 
• By Mandy Jackson

Private Company Edition: ARCH raised more than $3bn for its eighth fund, Frazier added $630m to its public fund that also can back crossover rounds, DCVC’s third biotech fund totaled $400m and Asabys raised €180m ($200m) for its second fund. Also, Aktis closed a $175m series B round. 

Finance Watch Private Company
• Source: Shutterstock

September ended and October began with an explosion of new venture capital available for biotech companies, raising expectations for VC fundraising by drug developers through the rest of 2024, especially after one major life science investor revealed a multibillion-dollar fund. ARCH Venture Partners announced on 26 September that it closed ARCH Venture Fund XIII with more than $3bn to found new start-ups and support the growth of existing early-stage companies.

In addition, Frazier Life Sciences (FLS) said on 2 October that it raised an additional $630m-plus for its evergreen Public...

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Finance Watch: Did Mid-Summer Usher In A Mega-Round Comeback?

 
• By Mandy Jackson

Private Company Edition: Hatteras Venture Partners now has more than $900m under management. Also, in recent $100m-plus VC rounds, Strand Therapeutics raised a $153m series A, ARTBIO revealed a $132m series B and Minghui Pharmaceutical secured a $131m pre-IPO round.

Sarepta Sells Arrowhead Shares To Raise Cash, Pay Arrowhead

 
• By Mandy Jackson

Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.

Finance Watch: OrbiMed’s New $1.86bn Fund Offers Financial Alternatives In Tough Market

 
• By Mandy Jackson

Public Company Edition: OrbiMed partners Carter Neild and Matthew Rizzo spoke with Scrip about the firm’s fifth royalty and credit fund. Also, Ligand sold $400m worth of notes, BridgeBio’s oncology spinout went public via SPAC merger and raised $261m and Assembly raised $175m.

BeBetter, Trinomab Advance IPOs On China’s STAR Market In Firsts Since Policy Easing

 
• By Dexter Jie Yan

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Sarepta Sells Arrowhead Shares To Raise Cash, Pay Arrowhead

 
• By Mandy Jackson

Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.

Deal Watch: Lilly Teams With GPCR-Focused Superluminal In Cardiometabolic Disease

 
• By Joseph Haas

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• By Alaric DeArment

The drug is one of multiple candidates in the class that have been pulled from development, though it is not the company’s lead candidate.