I've been in the U.K. for a few days now, grabbing some meetings along the way after discussing valuations in biotechnology with a group of One Nucleus members at The Babraham Institute near Cambridge. And I've been thinking about this question a lot this week.
Third Rock Ventures has cut the ribbon on its latest startup, pledging $45 million to launch Cambridge, MA's Voyager Therapeutics, a gene therapy biotech with a promising platform for central nervous system treatments.
In the 10 months since Mary Szela took charge of Melinta Therapeutics--the antibiotics developer once known as Rib-X--the CEO has built up an experienced team of R&D executives. Now she also has the money needed to wrap an ambitious late-stage program for their lead product while preparing to usher a new set of assets into the clinic.
North Carolina's Argos Therapeutics raked in $45 million in a below-its-range Wall Street debut, sticking a so-so endcap on an otherwise colossal week for biotech IPOs in which drug developers banked more than $500 million.
Clarus Ventures is raising $375 million for a third fund, building up its war chest to bankroll new bets on drug and med tech outfits.
A fledgling biotech in Norway's notable cancer drug cluster has garnered about $12.5 million to back its early-stage efforts on a new therapy for acute myeloid leukemia and non-small cell lung cancer.
Purdue University is lining up a $12 million evergreen fund to help launch life sciences companies based on its in-house discoveries, planning to match the investments of third-party backers and speed up spinoffs.
Draper Fisher Jurvetson has closed its 11th venture fund with $325 million. The firm has placed a few bets in the life sciences field, including its support for NanoString's diagnostics work.
New Enterprise Associates has stepped up to help with a $14 million A round designed to get Austin, TX-based startup Lumos Pharmaceuticals in the clinic with a new therapy for an autism spectrum disorder characterized by severe cognitive impairment.
Fast on the heels of two big biotech IPOs at the end of last week, Renaissance Capital is tracking 9 more life sciences companies looking to go public this week in a fresh burst of new offerings that could threaten to glut the market. Altogether, the developers have set their sights on raising roughly $500 million in a matter of days.