Finance Watch: Big Money For Private Biopharma As Start-Up Areteia Raises $350m
Qiming Ventures’ New VC Funds Total $3.2bn
Private Company Edition: As venture capital funding continues at a robust pace relative to public company financings, Knopp Biosciences and Population Health Partners launched Areteia with enough cash to fund Phase III asthma trials and Qiming revealed new VC funds totaling $2.5bn and $700m.
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Private Company Edition: With its lead program in the clinic, Frontier’s $80m series C round will fund trials for additional programs. Also, ORI raises $260m for second fund, Earlybird closed a €173m ($187.1m) fund, Areteia’s series A grew to $425m and Sudo’s series B increased to $147m.
Gene-expression focused Syros adds about $190m to its coffers with Tyme merger and PIPE financing. This will get it past pivotal data for tamibarotene and enable Phase III development of a leukemia candidate.
ARCH Venture Partners brought in $2.975bn for its latest fund to give additional long-term investors a place at the table as the VC firm creates, builds and supports new early-stage biotechnology start-ups.