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.
With the help of Syncona, the Wellcome Trust's venture arm, Oxford University spinout NightstaRx has $20 million and a plan to develop gene therapies for degenarative eye conditions.
The big question at the beginning of this year was whether investors would continue to eagerly buy up shares offered in new biotech IPOs, continuing the burst of new offerings that injected billions of dollars into the industry last year. As of today, the answer--for at least a few select biotechs--is a boisterous "yes."
The antibody upstart Igenica has rounded up $14 million in venture cash to move its lead drug into the clinic. The Column Group, 5AM Ventures, OrbiMed and Third Rock Ventures all participated in the round.
U.S. biotech companies attracted a bountiful $1.3 billion venture haul in the fourth quarter of 2013, pushing the total for the year to $4.53 billion--well ahead of 2012's mark of $4.19 billion and a hopeful sign of continued activity headed into 2014.