US Venture Capital Off To Good Start After Record 2015; Tarveda Raises $38m
This article was originally published in Scrip
US biotechnology companies raised a record-breaking $7.4bn in venture capital in 2015, and based on VC fundraising so far in January – including a $38m Series C round for Tarveda Therapeutics Inc. – 2016 looks like it may keep pace with last year.
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Emerging Company Profile: Tarveda Therapeutics has refocused during the past 18 months on its Pentarin technology. The company has raised $91.8m to date, including a recent $30m Series D round, which it will use to produce human data that could make it attractive to investors or pharma partners.
Public Company Edition: Drug developers continue to take advantage of investors’ preference for biotechnology investments, with CRISPR, Acceleron and BioNTech raising massive sums. The wealth isn’t spreading to everyone, however, as DBV Technologies is restructuring and cutting jobs.
Private Company Edition: BioGeneration closed a €105m ($119m) fund to continue backing new European companies, while Samsara BioCapital, Evotec and KCK Ltd. launched the virtual incubator Autobahn Labs. Also, Poseida, Annexon and Goldfinch close $100m-plus VC rounds.