StartUps and SMEs

Data from Evaluate show that biopharma venture capital investment fell from $7.95bn in Q2 to $6.59bn in Q3, but both outpaced every quarter in 2023 as the financial market recovery continues.

ProBiotix Health has announced two commercial partnerships for the distribution of its probiotic ingredients, with Deutsch-Pharm in Ukraine and Eifron in Greece respectively.

Purespring has just raised $105m from an investor syndicate who are betting it can develop the first gene therapy for kidney disease and learn from setbacks experienced in the space.

Emerging from ARCH, City Therapeutics has launched with $135m in series A funding and the Alnylam founder as its executive chairman.

Judo Bio, incubated for three years by Atlas Venture to deliver siRNA and other genetic medicines to the kidney, came out of stealth mode with $100m and new CEO Rajiv Patni.

Maxwellia is inviting 100 investors to contribute to the “development of new healthcare solutions that will benefit millions, while also playing a role in shaping the future of self-care.”

The Swedish company is well positioned, and well financed with a bit of help from the French major, to push its idiopathic pulmonary fibrosis hopeful buloxibutid closer to the regulatory finishing line.

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. 

An upfront payment of $110m from BMS has come just in time for Prime Medicine, but its real test will be the first Phase I data, expected early next year.

Private Company Edition: Vicebio plans to take a combo vaccine into Phase I with its $100m series B venture capital round. Also, Nura Bio raised $68m to boost its series A total to $141m and George Church-founded GC Therapeutics launched with $75m, among other recent VC deals.