COVID-19 didn't stop venture capitalists from investing!
Updated: 6 days ago
Picture credits: Getty Images
The sudden emergence of SARS-CoV-2 causing COVID-19 has brought the world to a standstill. The global economy is going down day by day but this hasn't stopped venture capitalists from investing in biotech start-ups. Let's take a look at some life sciences companies which received funding in the last 30 days.
A big biotech venture capital firm, ARCH Venture Partners announced $1.46 billion to invest in transformative, early-stage biotechnology companies. San Francisco-based life sciences VC firm venBio has raised $394 million for its latest fund.
AbCellera working on infectious disease, neurology, oncology, and ophthalmology has announced the closing of a US$105 million Series B financing backed by investors like OrbiMed and DCVC Bio. Other investors are Viking Global Investors, Peter Thiel, Founders Fund, Eli Lilly and Company, and Presight Capital. The leading artificial intelligence (AI) drug discovery company, Exscientia, has raised $60 million Series C financing round. The financing round has been led by new investor Novo Holdings with existing investors Evotec, Bristol Myers Squibb, and GT Healthcare Capital.
Rallybio announced the completion of a $145 million Series B financing led by Pivotal bio venture Partners. New investors participating in the financing include Viking Global Investors, TPG’s The Rise Fund, F-Prime Capital, funds managed by Tekla Capital Management LLC, Solasta Ventures, and Fairview Capital. The Company’s existing investors, 5AM Ventures, Canaan Partners, New Leaf Venture Partners, and Connecticut Innovations, also participated in the financing.
Atea Pharmaceuticals, a biopharmaceutical company engaged in the discovery and development of next-generation therapeutics for severe human viral infections, today announced a $215 million Series D financing. The financing was led by Bain Capital Life Sciences including new investors: RA Capital Management, Perceptive Advisors, Rock Springs Capital, Adage Capital Management, Redmile Group, Omega Funds. Existing Atea investors, including Morningside Ventures, Ally Bridge Group, and Sectoral Asset Management, as well as other investors also participated in this financing.