With investors revved up about biotech's future, a string of funds have outlined plans to raise billions of dollars to back a new generation of life science companies. And New Science Ventures is joining the frenzy with a $100 million game plan of its own.
Versant Ventures is nearing the finish line in its quest to raise a fresh $300 million fund to finance a new wave of biotech and med tech companies. The group, which is based in Menlo Park, CA, filed papers with the SEC indicating that it has now raised all but a few million dollars for Versant Ventures V, its first new fund since the last big $500 million fund was opened for business in 2008.
The biotech is also planning to launch studies for SNC-102 in Tourette syndrome and post-traumatic stress syndrome. Accellient seeded Synchroneuron up to its $6 million Series A from Morningside.
Venture investing in the biotech sector hit the $1.1 billion mark in the first quarter of the year--a surprisingly strong showing for what has generally been a quiet season in the U.S. industry.
San Francisco biotech bankroller Foresite Capital has closed a $300 million second fund, setting out to invest in drugmakers with a clear path to market amid some renewed optimism in life sciences venture capital.
Anyone looking to start a biotech company should pay close attention to this list. Venture groups, entrepreneurs and increasingly Big Pharma have been concentrating their money and their attention in a few key places, only occasionally straying from the beaten path when funding a high-risk drug development effort.
With IPOs still booming, follow-on financings sizzling and venture capital rolling in at a steady pace, the biotech industry has been stocking up on billions of dollars in cash.
As biotech venture funding plods along at a middling pace, A-list investor OrbiMed has bagged $735 million for its 5th fund, cash earmarked for life sciences companies across all stages of development.
Over the last few months, Carlos Paya has been filling out his management team at Seattle-based Immune Design. And today the biotech CEO detailed an injection of $32.5 million in venture cash--with the near-term prospect of adding $16.5 million more--to finance the biotech's efforts to nail proof-of-concept data on its two top cancer vaccines.
California VC Versant Ventures is putting together another $200 million fund, according to a regulatory filing, building up its chest as biotech investments maintain their sluggish pace.