$50M+ rounds for Avenzo, AusperBio, Ensoma, Sparrow: Venture Report

Four clinical biotechs raised venture rounds larger than $50 million this week, while a corporate fund redoubled its commitment to investing in smaller biopharmas by enlarging its evergreen fund.

One company, Avenzo Therapeutics Inc., believed it would have a path to the public markets soon after it emerged from stealth mode in early 2024, but hasn’t publicly filed for a listing. The company drew $386 million in series A and A-1 cash by November 2024, and has now closed a $60 million series B, with existing investors OrbiMed Advisers and SR One leading...