FINANCE ROUNDUP: Six VC financings and a royalty deal
This article was originally published in Scrip
Biotechnology companies and their investors came back from summer break with a slew of venture capital funding rounds and a royalty deal, although it remains to be seen how many early-stage firms will remain financially independent with large biotech and pharmaceutical companies raising massive stockpiles of cash.
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The two drug developers that managed to launch initial public offerings in the US during the past two weeks had to accept rough haircuts in order to get investors to buy their newly issued stock.
Flagship Pioneering raised $1.1bn to fund life science companies emerging from Flagship Labs. ARCH, another frequent start-up co-founder, raised two funds totaling $1.46bn to back early-stage biotech.
Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds.