Biotechs raked in a whopping $1.8 billion in venture cash last quarter, the industry's biggest haul since PricewaterhouseCoopers and the National Venture Capital Association started keeping track in 1995.
Menlo Park, CA, biotech Virobay tacked another $8 million onto its Series B financing, collecting cash to advance its treatments for neuropathic pain, autoimmune disease and fibrosis.
After scooping up an initial €12 million in October and a partnering pact with Roche in November, Germany's immatics has received an additional €22 million ($29.8 million) to wrap up a Series D financing round.
The valuations of small biotech companies are looking a little bloated, according to a Federal Reserve report accompanying testimony by Chairwoman Janet Yellen, an opinion that weighed down share values across the industry.
Online fundraising has helped bring movies, comic books and even medical devices to reality, and a new study says the method could be beneficial for drug developers at the earliest of stages.
San Diego biotech Otonomy isn't biding its time, filing to go public in an $86.3 million IPO just three days after unveiling positive Phase III results for its lead drug.
Longtime biotech backer Sofinnova Ventures is putting together a 9th fund, according to a filing, raising $500 million to bankroll innovators in life sciences.
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.
Over the past few years, Google has expanded into life sciences, with venture capital investments, the creation of Calico and development of "smart" contact lenses giving it multiple beachheads in the industry. But the search giant's co-founders have reservations about getting deep into healthcare, saying regulations make it a "painful" sector in which to work.
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.