Canaan Has Capital For Start-Ups With Eye On New Twists On Traditional Modalities In Pharma
VC partner Colleen Cuffaro talked to Scrip about how the investment firm plans to direct investment in biopharma and raising capital in a challenging environment.
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Private Company Edition: Forbion closed two funds totaling €1.35bn ($1.5bn) and Glide Healthcare raised €600m ($657.5m) for its latest fund, joining recent venture capital raises by Lux Capital and Wellington Management, but in the first quarter biopharma VC company financings fell dramatically.
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.
Private Company Edition: Alexis Borisy and his Curie.Bio co-founders will invest $5m-$7m to help companies get to lead optimization within 12-18 months. Also, Feng Zhang-founded Aera launched with $193m, Hexagon Bio raised a $77.3m series B round and Halda emerged with $76m.