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

Europe
(CC0 Public Domain)

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.

Virtual Clinical Trials Summit

Virtual Clinical Trials Summit: The Premier Educational Event Focused on Decentralized Clinical Trials

In this virtual environment, we will look at current and future trends for ongoing virtual trials, diving into the many ways companies can improve patient engagement and trial behavior to enhance retention with a focus on emerging technology and harmonized data access across the clinical trial system.

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.

And more articles of note>>