Finance Watch: Venture Capital Drives Record-Breaking Year For Cell And Gene Therapies
$8.2bn In VC Deals Through Q3 Is Up 45% Year-Over-Year
Private Company Edition: Recent VC financings across biopharma sectors include three major mega-rounds as Generate Biomedicines bringing in $370m, followed by $250m for Acelyrin and $125m for Chroma Medicine. Also, Treadwell raised a $91m series B and Ncardia brought in $60m-plus.
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Private Company Edition: Iambic, formerly known as Entos, closed a $100m series B venture capital round to advance its AI-discovered therapeutics. Also, Evozyne raised $81m and Acesion brought in €45m in series B rounds, while Mogrify added $10m to bring its series A to $46m.
VC data from Evaluate show quarter-over-quarter drops in the number of biopharma companies raising private cash and in the amount of money raised as investors ride out public market troubles.
The biotech company already has a candidate with a tough target in the clinic for COVID-19 and plans to have four to six candidates in the clinic over the next two years following a $273m series C round.