Israel has joined the list of countries that obliterated their life science fundraising records in 2014. Data from IVC Research Center show Israeli life science companies pulled in $801 million (€708 million) last year, a 55% jump on the previous high that was underpinned by foreign investors opening their checkbooks with unprecedented regularity.
Bavarian Nordic is the latest company to benefit from the European Investment Bank's newfound willingness to finance drug development, snagging access to up to €50 million ($56 million) in loans for its Ebola and immunotherapy programs.
BeiGene CEO John Oyler has long said China has all the world-class science and entrepreneurial ambition necessary to become a biotech hotbed. All that's missing is the kind of venture capital interest startups enjoy on the other side of the Pacific, he said. Now his company, at work on a pipeline of cancer treatments, is bucking that trend, hauling in a $97 million round and speeding ahead in the clinic.
Billionaire entrepreneur Patrick Soon-Shiong has raised $100 million for one of the many offshoots of his NantWorks conglomerate, working to duplicate the success of the targeted cancer drug that helped build his empire.
The wave of cash that has been lifting all boats in the gene-editing pool has now lifted a new biotech into view. Precision BioSciences, a Duke spinout focused on competing in the fractious and rapidly growing field, has grabbed a $27.6 million A round with the help of some A-list investors.
SFW Capital Partners has closed its second analytical tool investment fund. The fund hit its hard cap after 6 months of fundraising, giving SFW a $345 million kitty to invest in analytical tools companies.
Vertex Pharmaceuticals has made a major difference--and a lot of money--in cystic fibrosis with its targeted treatments, drugs tailored for patients with particular genetic defects. But upstart Spyryx Biosciences believes it may have discovered a way to treat all forms of CF with a single therapy, and the company raised $18 million in Series A cash to advance the idea.
U.K. biotech Kymab has added Neil Woodford and the newly launched Malin to its who's-who syndicate of investors, adding $50 million to its B round and accelerating its pipeline.
In the little more than two years since its launch, Symbiomix Therapeutics has successfully navigated a midstage study for a sole-asset antibiotic, positioning it for a Phase III start in Q2. And now it's ready to jump out of stealth mode as it prepares for a make-or-break move for an anti-infective that has been in use for years--just not in the U.S.
Doubling down on its in-house startup academy, biotech VC stalwart Flagship Ventures has recruited a trio of big-name corporate sponsors to lend their expertise to its next class of seedlings, expanding its focus well beyond traditional drug development.