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Venture Funding Deals: Orchard Therapeutics Spreads Its Roots

Executive Summary

Rare disease gene therapy play Orchard added new investors in an oversubscribed Series B raising $110m and therapeutic antibody developer Allakos raised $100m in its Series B round, while Obsidian raises $49.5m for next-generation cancer cell therapies in Series A.

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Finance Watch: Relay Raises $400m – And It's Only The Third-Largest Biopharma VC Round Of 2018

The company isn't relaying any details about its drug targets, but will use the mega-round to take its first candidates into the clinic. Also, RiverVest raises a $184.4m VC fund, Annexon closes a $75m Series C, Takeda lists its stock in the US, and Aptorum goes public.

Deals in Depth: January 2024

Ten $1bn+ alliances were penned in January. In the top alliance by deal value, Shanghai Argo Biopharmaceutical entered into exclusive collaboration with Novartis Pharma for two undisclosed Argo cardiovascular disease programs, one in Phase I and another in Phase I/IIa. Novartis gets an exclusive global license to develop and commercialize the Phase I program and also receives an option to potentially license compounds directed against up to two additional targets. For the Phase I/IIa program, Novartis gets an exclusive license worldwide except in Greater China. The deal could be worth up to $4.17bn for Argo.

Dealmaking Quarterly Statistics, Q4 2023

During Q4, biopharma merger and acquisition deal value reached $63bn and drew in $75.4bn in potential deal value from alliances. Device company M&A values reached $4.8bn, while in vitro diagnostics and research tools players’ M&A activity totaled $3.4bn.

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