University of Illinois
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Private Company Edition: Revolution Medicines follows its Sanofi partnership and Warp Drive Bio buyout with a series C venture capital round to fund its RAS pathway inhibitors in cancer. The financing came during a boom in $100m-plus VC financings, including BioNTech's $325m series B.
In Q1 2015 start-ups raised $2.74 billion, a new record. Biopharma companies penned 37 alliances; 13 start-ups were acquired across all industries.
The venture firm hopes to create its next success story with the launch of Revolution Medicines, a biotech focused on using its chemical platform to transform natural products into drugs with fewer side effects, but more potent efficacy.
Talent, innovation, world-class research institutions, established supply chains, and a lower cost of doing business – what else do you need to launch and grow a device company? Well, capital, for one. Players in the Midwest are working in a variety of ways to draw entrepreneurs and venture money to the region, and their efforts are reaping positive results.