Finance Watch: Mega-Round Mania As RNA Therapeutics, Gene Editing Attract VC Cash
ReNAgade Raised $300m; ElevateBio Closed $401m 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.
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Plus deals involving ASLAN/Zenyaku Kogyo, AstraZeneca/Cholsegen, Astellas/Cullgen, AbCellera/Confo, Blue Water/WraSer, Solve/Cereius, Prime Medicine/Cimeio, Evox/Codiak, PharmaTher/Vitruvias and Adverum/Ray.
Private Company Edition: June’s eight $100m-plus venture capital rounds already outpace the seven each raised in March, April and May, including €255m ($274.2m) for ITM and $200m for Upstream, but while there were five $25m or less VC financings during the past week, mid-sized deals were lacking.
ReNAgade Therapeutics came out of stealth mode with $300m to fund its proprietary technology for delivery of RNA medicines – including coding, editing and gene insertion modalities – beyond the liver.