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
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.
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.
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.
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.
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.