DUBLIN – Versant Ventures was one of a handful of investors to profit from Passage Bio Inc.’s recent upsized IPO. The Philadelphia-based gene therapy firm planned to raise $125 million initially but eventually hauled in $216 million by issuing 12 million shares, which it priced at $18 per share on Feb. 27. The IPO price valued Versant’s holding at $89 million. As well as participating in the IPO – the actual amount involved has not been disclosed – it invested $35 million across three private rounds, between September 2018 and August 2019, according to SEC filings.
HONG KONG – South Korea’s venture capital investment in the biopharma and medical sector set a new record in 2019. According to Korea Venture Capital Association (KVCA), local VC firms invested ₩1.1 trillion (US$930 million) over a total of 299 bio and medical ventures last year, representing 25.8% of the total VC investment executed in 2019.
HONG KONG – South Korea’s venture capital investment in the biopharma and medical sector set a new record in 2019. According to Korea Venture Capital Association (KVCA), local VC firms invested ₩1.1 trillion (US$930 million) over a total of 299 bio and medical ventures last year, representing 25.8% of the total VC investment executed in 2019.
SAN FRANCISCO – Pacing the stage at this year's China Showcase Saturday, Chinabio CEO Greg Scott sounded a touch disappointed. Last year lacked the kind of record-breaking stats he likes to punctuate with iconic explosions, a common image in his widely valued China health care talks. "Simply stated, business is continuing as normal," he said.
DUBLIN – Last year was yet another banner year for European biotechnology firms engaged in drug development. The sector took in $7.739 billion in equity funding in 2019, just edging past the previous high of $7.715 billion it reached in 2018. The second half of the year was a marked improvement on the first half, but that was linked to the timing of a couple of large-scale transactions.
While the number of venture capital financings are continuing the upward trend begun in 2018, amounts raised are down from last year, aside from series B rounds that have brought in 28% more in funds of $5.49 billion.
DUBLIN – Truffle Capital closed off its fifth Biomedtech fund with a €250 million (US$279 million) raise, which it will deploy in about a dozen companies located mainly in France. The fund took a little longer to close than originally planned but it is significantly larger than it had originally intended. “Our initial objective was €200 million,” Truffle Capital CEO and co-founder Philippe Pouletty told BioWorld MedTech.
DUBLIN – Truffle Capital closed off its fifth Biomedtech fund with a €250 million (US$279 million) raise, which it will deploy in about a dozen companies located mainly in France. The fund took a little longer to close than originally planned but it is significantly larger than it had originally intended. “Our initial objective was €200 million,” Truffle Capital CEO and co-founder Philippe Pouletty told BioWorld.
In the third quarter, global biopharmaceutical companies collectively raised more than $12 billion from public and private transactions. Year to date (YTD), the sector has generated $41.5 billion, according to BioWorld data, putting it on track for a $55 billion haul for the year.
