The biopharmaceutical sector is showing no signs of slowing the pace of attracting capital. After coming off a record year, global private and public companies collectively raised $37 billion in the first quarter, indicating that it could be another bumper year for financings.
Biopharmas raising money in public or private financings, including: Achilles, ACM, Applied Molecular, CM Life Sciences, Delta 4, Homology, Humanigen, Icosavax, Innovatus Life Sciences, Ionis, Metagenomi, Panacea Acquisition, Xoma.
Mineralys Therapeutics Inc., a Philadelphia-based company developing an aldosterone synthase inhibitor in-licensed from Mitsubishi Tanabe Pharma Corp. (MTPC), has raised $40 million in series A funding to complete a phase II proof-of-concept study in hypertension for the candidate, known as MLS-101.
LONDON – Phoremost Ltd. has raised $46 million in an oversubscribed series B that will enable it to put clinical heft behind its claim to have developed a novel approach to finding and drugging inscrutable targets.
The number of venture capital financings completed in March, as well as the total amount they raised for the biopharma industry, are more than any other month in the past 21 years. With 92 rounds worth $6.2 billion, the volume is 35% higher than the September 2020 record of 68, and the total funds are 66% more than the $3.8 billion raised in the next top month of June 2020.
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