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Finance

CRISPR, Acceleron follow-ons among year’s largest

A pair of biotechs priced upsized follow-on offerings late Tuesday, with CRISPR Therapeutics and Acceleron each raising $450 million, good for a tie for the year’s tenth-largest follow-on financing. CRISPR Therapeutics AG (NASDAQ:CRSP) sold 6.4...

Data Bytes: strategics piling into biotech venture rounds

The number of venture rounds involving corporate VC arms has continued to tick upward. The first half of 2020 has already seen 60 biotech rounds that include participation from at least one corporate VC vs....

Data Bytes: Venture megarounds tracking to new record

Goldfinch Bio Inc. has raised the forty-seventh megaround of the year, putting the biotech sector on pace to close 92 venture financings of $100 million or more. That would be a 61% increase compared with...

Goldfinch’s $100M round sets up Third Rock company to advance kidney disease therapies

With $100 million in series B funding, Goldfinch Bio Inc. aims to move its second kidney disease therapy into the clinic and begin Phase II testing of its lead candidate. Eventide Asset Management led the...

Syncona’s Freeline mulls IPO after crossovers back gene therapy play

Rather than draw the second half of a planned $80 million round from founding investor Syncona, gene therapy developer Freeline has instead opted to raise $80 million from a syndicate that includes crossover firms, setting...

Qiming-backed Gan & Lee hits ceiling to reach $5.2B market cap in first day on Shanghai

The latest in a string of Qiming portfolio companies to go public, Gan & Lee saw its stock gain the maximum allowed by the Shanghai exchange in its first day of trading to bring its...

June 29 Quick Takes: BioNTech pockets $250M; plus three biotechs join NASDAQ IPO queue

Temasek takes stake in BioNTech   BioNTech SE (NASDAQ:BNTX) raised about $250 million from Temasek and other undisclosed investors in a private placement comprising $139 million in stock and $112 million in convertible notes. The...

Akouos’ first-day pop outshines peers among NASDAQ IPO trio

Among a trio of companies making their NASDAQ debuts on Friday, Akouos’ first-day rise of 29% was the biggest, while Fusion gave back its early gains and PolyPid also climbed in the aftermarket. Across the...

Biotech could benefit from banks backing venture funds

Biotech-focused venture firms not located in coastal hubs could see a boost to their funds, thanks to a federal rule change that will now allow banks to invest in VCs. The Fed and four other...

Poseida brings in $110M ahead of IPO as more biotechs line up for NASDAQ debuts

June has already seen 13 biopharmas raise more than a total of $4.7 billion from NASDAQ IPOs, and biotechs are continuing to line up for public market debuts (see “Biotech IPOs on NASDAQ Maintain Momentum”...

June 25 Quick Takes: Chi-Med rakes in $100M; plus bank rules rolled back, newco DeCART has June ties and more

Chi-Med raises $100M private placement  Hutchison China MediTech Ltd. (NASDAQ:HCM; LSE:HCM) raised $100 million Thursday in a private placement to General Atlantic through the sale of 4 million ADSs at $25. The price matches its...

The state of biopharma in the COVID-19 world: a BioCentury & McKinsey webinar

The COVID-19 pandemic has compelled biopharma companies to rapidly adjust how they run their trials, negotiate deals and raise money. In Part 1 of a two-part webinar organized by BioCentury in collaboration with McKinsey &...

Autobahn Labs bringing industrial translation to academic projects via joint ownership model, starting with UCLA

Virtual incubator Autobahn Labs aims to industrialize academic projects deemed too early for traditional tech transfer by running them through Evotec’s drug discovery funnel, with the goal of creating jointly owned spinouts backed by Autobahn’s...

Expect more company creation by BGV with its €105M fourth fund

BioGeneration Ventures is the latest in a string of European early-stage VCs raising upsized funds that give them the ability to commit more capital to portfolio companies and retain larger stakes longer. The firm also...

AsclepiX aims for basket of retinal indications with $35M series A

AsclepiX intends to use its $35 million series A round for proof-of-concept studies of its lead product in three retinal disease indications, while also developing peptides into therapeutic candidates for oncology. Spun out of The...