Finance Watch: Biotech Venture Capital Had Its Biggest Quarter Ever
Will 2021 Be Another Record-Breaking Year?
Private Company Edition: VC mega-rounds boosted the Q1 2021 total. Also, new funds from Versant, The Column Group and Rapha Capital keep cash flowing into biopharma; up to $525m is invested in Exscientia; and Arch Oncology and Boundless Bio raised $105m each, while Forge brought in $120m.
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Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.
Private Company Edition: Pitchbook is out with an early look at its venture capital expectations for next year, showing continued interest in seed financings and fewer $100m-plus mega-rounds. Recent VC deals include a $75m series B financing for Alpha-9 Theranostics and $71.6m for A2 Biotherapeutics.
The biomanufacturing firm National Resilience has raised more than $2bn in venture capital and millions more in fees from government and industry contracts since 2020. Also, Code Biotherapeutics raised $75m in series A cash, Concert grossed $66.4m and Amarin is cutting US jobs.