Finance Watch: Arbor, Acrivon, Bit.Bio Close VC Mega-Rounds
Mission BioCapital Raises $275m For Fund V
Private Company Edition: Arbor is developing drugs based on proprietary gene editors, Acrivon is applying proteomics to precision cancer therapies, and bit.bio is producing differentiated cell products. Also, Marengo launches with $80m, Sanofi invests up to $60m in Gyroscope and Shasqi raises $50m.
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Private Company Edition: Kriya raised the first $270m of its now $430m-plus series C venture capital round in May 2022 and has raised more than $600m to date. Also, Nexo launched with $60m in series A cash, Ossium brought in $52m in series A financing and cell therapy CDMO Kincell launched with $36m.
Public Company Edition: Acrivon launched the 20th biopharma IPO in the US for 2022. Also, Q3 updates reveal job cuts at Tricida, Harpoon, Neoleukin and more; APIM Therapeutics will reverse merge with Nordic Nanovector; plus other follow-on offerings, royalty deals and a sale-leaseback.
Private Company Edition: The industry raised $28bn in venture capital through the third quarter, breaking the record $27.4bn raised last year. Also, big pharmas backed a start-up lab in Israel, plus mega-rounds for CinCor Pharma ($143m) and Rectify Pharmaceuticals ($100m), while Cerecin raises $40m.