Finance

Kurma investor builds stake as French VC looks to crossover deals

Like several of its peers in the U.S. and Europe, early stage investor Kurma is among a handful of venture firms that are committing more capital to support biotechs in the growth stage, reflecting an...

Creation House-funded start-ups: Data Byte

Four new companies have joined the BioInnovation Institute’s Creation House incubator, giving them each DKK10 million ($1.6 million) to generate a lead candidate or prototype. Founded in 2018, the Copenhagen-based BioInnovation Institute, which is supported...

Charity-backed RD Fund moves into company creation, launches Opus

Three years after its launch and nearly a year past its first exit, the philanthropically associated Retinal Degeneration Fund has for the first time created a new company from scratch, teaming with ex-Spark gene therapy...

Ventyx bolsters coffers with $51M, autoimmune expertise

Six months after launching with a $114 million round led by venBio, Ventyx has raised $51 million in a series B convertible preferred stock deal led by Citadel’s Surveyor Capital, added a CMO and...

Eyeing bigger deals, Illumina Ventures closes $325M second fund

Illumina Ventures and its investors believe the markets’ warm reception to companies in its areas of investment focus warranted raising a second fund larger than the firm’s first, with the goal of entering more deals...

Closing Europe’s largest biotech fund at $630M, Jeito readies to build portfolio

After raising Europe’s largest biotech fund at €534 million, French VC Jeito is gearing up to flesh out its portfolio of European companies focused on severe diseases in small patient populations. According...

Illumina’s accelerator selects next wave of genomics newcos

The Illumina Accelerator picked seven genomics start-ups, among them five life sciences companies developing technologies ranging from direct-to-consumer single-cell transcriptomics to AI-derived multitargeted therapies. The funding cycle is the thirteenth for the accelerator’s San Francisco Bay Area...

Amolyt pockets $80M series B to push peptides further into clinic

Amolyt has again attracted a syndicate of top-tier investors to advance its pipeline of peptide therapies for rare endocrine diseases, this time adding $80 million in a series B round. Two years ago, Amolyt...

Sept. 15 Quick Takes: Strong appetite for Tyra, DICE IPOs

Strong investor demand drove shares of Tyra Biosciences Inc. (NASDAQ:TYRA) up 63% to $26 in their first day of trading Wednesday after the company priced 10.8 million shares at $16 in a twice-upsized IPO. The...

The road to $50B gets shorter: Data Byte

The time it takes to become a $50 billion market cap biopharma company has considerably shrunk in recent years, according to an analysis by BioCentury. The chart below plots the number of years in-between...

Sept. 14 Quick Takes: Out of stealth, Vanqua gets $85M series B

Neurodegeneration company Vanqua Bio expects to bring a GBA activator program into the clinic with a new $85 million series B round, revealed Tuesday as the company officially launched. Led by co-founder and CEO Jim...

Lightstone’s largest fund yet: $375M for biotech, medtech

Although Lightstone is staying in its wheelhouse by splitting its third and largest fund between biotech and medtech, the fund’s size will allow the VC to write larger checks to keep pace with the growing...

Remembering Fred Frank, Lisa Raines, plus CRISPR, Washington updates

On the latest BioCentury This Week podcast, BioCentury’s editors remember Fred Frank and Lisa Raines, two remarkable leaders who helped make the biopharma industry what it is today. They also deliver an update on the...

Remembering Fred Frank, a giant of biotech

Fred is gone. A true giant of the biotechnology industry has left this world, but his imprint has not left the industry. Frederick Frank started his career on Wall Street after completing his MBA at...

Fred Frank, co-founder of the biotech industry, is dead at 89

Frederick Frank, one of the founding fathers of biotech investment banking who transformed the sector by constructing the first Genentech-Roche deal, passed away Saturday. He was 89. Frank was one of the...