EuroBiotech Report—EU funds raise $630M, Dynacure, Genmab-Immatics and BioNTech-Genevant

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Welcome to the latest edition of our weekly EuroBiotech Report. Fresh funding flooding into the European biotech scene this week, with powerhouse VC shops Abingworth and Forbion unveiling funds with $630 million (€539 million) to invest. Elsewhere, Dynacure raised €47 million to take an antisense oligonucleotide therapy it licensed from Ionis Pharmaceuticals into the clinic, and a clutch of European biotechs entered into partnerships. Genmab sent $54 million across the Danish-German border to access Immatics' bispecific antibody targets and technologies. And BioNTech entered into rare disease and cancer pacts with Genevant. And more. Nick Taylor  

1. Forbion raises €270M, EU-focused life science fund

Forbion has raised a €270 million ($316 million), Europe-focused life sciences fund. The bumper first close of the fund follows a period in which Forbion has shown a knack for picking winners.

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2. Abingworth raises $315M to place transatlantic biotech bets

Abingworth has raised a $315 million (€267 million) life sciences venture fund. The British VC shop will use the cash to continue placing bets on early to late-stage biotechs at home and abroad.

3. Ionis-backed Dynacure bags €47M to start clinical trials

Dynacure has raised €47 million ($55 million) to take an antisense oligonucleotide therapy into the clinic. The French biotech picked up the centronuclear myopathy (CNM) prospect from its cofounder, Ionis Pharmaceuticals.

4. Genmab pays Immatics $54M to form anticancer bispecific pact

Genmab has paid Immatics $54 million (€46 million) to enter into an anticancer bispecific antibody pact. The upfront fee and $550 million milestone commitment buy Genmab the right to work with Immatics on the development of T-cell engaging bispecific immunotherapies in multiple indications.

5. BioNTech, Genevant form mRNA pacts in rare diseases, oncology

BioNTech and Genevant Sciences have entered into a broad, multipiece partnership. The agreement sets the companies up to work together on five programs targeting rare diseases and another five against cancers.

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