This week's biopharma funding and startup activity includes several significant milestones. Washington-based Kestra Medical Technologies announced a $196M funding round to support the company's expansion. Third Arc Bio launched with $165M in Series A financing to advance its oncology and autoimmunity pipeline.
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FIG. 1. Recent Biotech Funding Activity.
– Private Funding –
Kestra Medical Technologies
💸 Announced $196M funding round to support the company expansion.
Third Arc Bio
💸 Launched with $165M Series A financing to advance oncology and autoimmunity pipeline.
Magenta Medical
💸 Closed $105M financing led by several healthcare investors to be used to advance the company's U.S. clinical programs in multiple mechanical circulatory support (MCS) indications and to secure the first FDA approval for the Elevate™ System in patients undergoing high-risk percutaneous coronary interventions (HR-PCI).
Autobahn Therapeutics
💸 Closed $100M Series C financing led by Newpath Partners to advance pipeline for CNS disorders.
Genomma Lab Internacional
💸 Secured MXN1,500 million pesos (~$83.83M) amortizable credit line to support expansion of exports.
– Post-IPO/Public Funding –
Telix Pharmaceuticals
🏦 Announced pricing of AUD 650M (~$428.5M) convertible bonds.
ProMIS Neurosciences
🏦 Announced $122.7M private placement financing to support development of novel antibody for AD.
Verastem Oncology
🏦 Announced pricing of $55M public offering.
CEL-SCI
🏦 Announced pricing of $10.8M offering.
Rani Therapeutics
🏦 Announced pricing of $10M registered direct offering.
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Article History:
RF, DV, DG (07/31/24)
This article is not investment or legal advice.
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