Finance Watch: Third Rock Raises $770m To Launch Up To 12 New Companies
The VC firm known for its new company formation efforts will launch 10-12 biopharma, device and diagnostic ventures with its fifth fund. Also, EpimAb raises a $74m series B round, three more drug developers join the IPO queue and Amicus leads recent follow-on offerings.
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Restructuring Edition: The financial market is beginning to perk up after a decline in biopharma financings at the end of 2023, but some companies still are struggling to stay afloat after assessing their strategic options, like Merrimack and LianBio, which announced plans to dissolve.
New fund will include some later-stage investments in portfolio companies, in recognition of the currently tough environment for privately held biotechs.
Private Company Edition: Newpath Partners’ second fund totals $350m, Merck KGaA committed €600m to M Ventures, Eir Ventures raised €122.3m and Breakout Ventures has $112.5m. Recent financings were led by SOTIO ($317.5m), Odyssey ($218m), Avistone ($200m) and Acepodia ($109m).