Finance Watch: Biopharma VC Explosion Extends To Tools, Services
Codexis, Casdin Launch Accelerator; Resilience, SomaLogic Raise Mega-Rounds
Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.
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Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.
Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.
Private Company Edition: Westlake Village BioPartners-founded Neuron23 will take the LRRK2 inhibitor NEU-723 for Parkinson’s disease into human testing before the end of 2022. Also, Celsius raised $83m in fresh VC cash and ITM added another €33m to its recent €25m equity financing.