BIO: Biotech Funding Captured By Oncology
A report released May 19 from the industry organization confirms that oncology is attracting the most funding, while some other surprising therapeutics areas have become of interest to investors.
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Even Series A rounds have been large during recent record-breaking years for biotech venture capital investment, but it looks like smaller financings for early-stage companies may be in the midst of a comeback. With VC firms closing new funds, that raises the question: Will the number of preclinical and Phase I financings increase?
Just as rock climbers use gritstones to scale massive peaks, the San Francisco-based startup Gritstone Oncology raised $102m for the development of neoantigen-containing cancer vaccines that may help the immune system mount a targeted attack against tumors.
Neon Therapeutics launched its immunotherapy platform with $55m in Series A venture capital, exceeding recent investments in several other private therapeutics companies, including a diabetes drug developer on its fifth round of funding.