Building On Successes During Turbulent Times, SR One Closes $600m Fund II
$1.1bn Raised Since Spinning Out Of GSK
SR One will keep investing in a mix of new companies, early-stage firms and later opportunities with its second fund, raised even as biotech continues to endure challenging financial times.
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Public Company Edition: The closure of Silicon Valley Bank sank biotech stocks in the first full week of March, but valuations rose the next week when two big acquisitions were announced. Also, J&J’s consumer health spinout sold $7.75bn in notes ahead of its future IPO and Karuna grossed $400m in a follow-on offering.
The Silicon Valley Bank shutdown was a shock but is not likely to harm the biopharma financial ecosystem long term. The bigger near- to mid-term factor is inflation due to its impact on interest rates.