The Longest Round: NovImmune’s Eight-Year Series B
This article was originally published in Start Up
Several biotechs have kept a private financing round open for several years and extended beyond $100 million, but Swiss antibody firm NovImmune is taking the concept farther than anyone.
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Nine $1bn+ alliances were penned in October. Topping the list was a potential $22bn deal between Daiichi Sankyo and Merck for the global development and commercialization of Daiichi’s DXd antibody drug conjugate candidates patritumab deruxtecan, ifinatamab deruxtecan and raludotatug deruxtecan.
During Q3, biopharma merger and acquisition deal value reached $13.6bn and drew in $36.5bn in potential deal value from alliances. Device company M&A values reached $4.3bn, while in vitro diagnostics and research tools players’ M&A activity totaled $5.8bn.
During Q3, biopharmas brought in an aggregate $23.3bn in financing and device company fundraising totaled $3.6bn; while in vitro diagnostic firms and research tools players raised $649m.