Finance Watch: VC Round Extensions Attractive While Stock Market Wobbles
2022 Ended With Just 22 Biopharma IPOs
Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.
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Private Company Edition: Quarter-over-quarter increases in venture capital have been bolstered by fewer but larger rounds, like the recent $245m series A for Aiolos. Also, OrbiMed raised $4.3bn across three new VC funds, Rampart completed an $85m series A and Atom Bioscience raised an $83m series D.
Private Company Edition: Two companies raised multiple hundreds of millions of dollars each helping to keep the number of $100m-plus venture capital mega-rounds on the rise in May. Also, Ascend raised $132.5m to make gene and cell therapies, and Nido emerged with $109m for neurological diseases.
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.