From early-stage seed rounds to substantial public offerings, the biopharma sector witnessed diverse funding activity between April 15-19th, 2024.
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– Private Funding –
Xaira Therapeutics
💸 Launched with $1B backed by several investors aiming to develop drugs using AI.
Asher Bio
💸 Raised $55M Series C funding led by RA Capital Management.
Corner Therapeutics
💸 Raised $54M Series A funding led by Ziff Capital Partners and other investors. Funding will be used to develop vaccines for cancer and infectious diseases.
Skylark Bio
💸 Closed $40.8M equity offering.
Evergreen Theragnostics
💸 Secured $26M in Series C financing led by LIFTT and Petrichor Healthcare Capital Management.
Pathios Therapeutics
💸 Raised $25M Series B financing led by several investors. Funding will be used to further the development of cancer immunotherapeutics targeting GPR65.
Theolytics
💸 Closed financing raising a total of £19M ($24.5M) funding led by Sound Bioventures and other existing investors. Proceeds will be used to advance its lead oncolytic adenovirus, THEO-260 into clinical trials in ovarian cancer.
Curida
💸 Received ~$20.8M to $23.5M investment from Signet Healthcare Partners.
St Phi Therapeutics
💸 Completed ~100M RMB ($13.8M) in Series A+ financing led by Tailong Investment and Taiyu Investment. Funding will be used for clinical development and regulatory registrations.
Outrun TX
💸 Launched with $10M seed financing from M Ventures and MP Healthcare Venture Management to develop a protein stabilization pipeline.
Cognivia
💸 Secured €5.5M funding to advance drug development with AI-ML solutions.
Alphyn Biologics
💸 Closed $5.1M equity offering.
Flagship Biosciences
💸 Closed $5M from the $6.3M equity offering.
RheumaGen
💸 Sold $4.9M from the $15M equity offering.
Mach5 Therapeutics
💸 Sold $4.1 from the $4.5M offering.
GeneVentiv Therapeutics
💸 Awarded $2.5M SBIR Grant to advance gene therapy for all Hemophilias, with or without inhibitors.
Kubanda Cryotherapy
💸 Closed $725K from the $2.2M offering.
Zhuanma Biotech
💸 Completed tens of millions of yuan in seed round financing led by Mi Fang Health Fund. Funds will be used to develop gene-editing pipelines and the construction of ultra-small editor platforms.
Isospec Analytics
💸 Raised $1.9M in pre-seed funding to continue its work in biomolecular analysis technology.
ARC Medical
💸 $575K equity offering sold.
ImmVue Therapeutics
💸 $529K equity offering sold.
Life Adapt
💸 $700 equity offering.
– Post-IPO/Public Funding –
Intra-Cellular Therapies
🏦 Priced of $500M public offering.
Cullinan Therapeutics
🏦 Oversubscribed $280M private placement led by several investors to be used for R&D and to advance CD19xCD3 T cell engager clinical program for autoimmune diseases.
Biohaven
🏦 Priced of $230M public offering.
Surrozen
🏦 Closed $193M equity offering.
TScan Therapeutics
🏦 Closed the upsized $150M public offering to further cash runway through Q4 2026.
Zura Bio
🏦 Oversubscribed $112.5M private placement led by Access Biotechnology and several investors. Placement will support the clinical development of tibulizumab (ZB-106).
Korro Bio
🏦 Raised $70M from the private placement led by Deep Track Capital and other investors. Funding will provide runway to fund the completion of a Phase 1/2 trial of KRRO-110 in ZZ AATD patients and other R&D activities.
Benitec Ltd
🏦 Oversubscribed $40M private placement financing led by Suvretta Capital Management and other investors. Proceeds will be used for the development and commercialization of BB-301.
Inovio Pharmaceuticals
🏦 Closed $36M public offering and pre-funded warrants led by Deep Track Capital.
Traws Pharma
🏦 Completed $14M offering following merger w/ Onconova therapeutics
Longeveron
🏦 Raised $11.4M from exercised warranted offering and public offering. Proceeds will be used for the ongoing clinical and regulatory development of Lomecel-B™.
Calidi Biotherapeutics
🏦 Raised $6.1M from the public offering to be used for pre-clinical and clinical programs.
Outlook Therapeutics
🏦 Closed $5M private placement to advance its ONS-5010 clinical development programs.
Soligenix
🏦 Priced $4.75M public offering to be used for R&D, commercialization, and further cash runway.
PainReform
🏦 Raised $4M from public offering to advance the company’s clinical studies.
Genetic Technologies
🏦 Priced $2M registered direct offering. Proceeds will be used for marketing and other corporate-related activities.
NRx Pharmaceutical
🏦 Closed $2M public offering. Part of the funding will be used to initiate a national treatment protocol and safety database.
Bio-Path Holdings
🏦 Closed $1.2M public offering.
FIG. 1. Recent Biotech Funding Activity
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Article History:
RF, DV, EV (04/22/24)
RF, DV, (04/23/24) - Updated
This article is not investment or legal advice.
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