Despite a rough ride on the capital markets for much of the year, particularly in the second and third quarters, this did not prevent the biopharmaceutical sector from attracting a significant amount of capital. According to BioWorld, when the curtain closed on 2019, approximately $57.6 billion had been generated by global public and private companies.
LONDON – Novo Repair has made new investments of $12 million, bringing the total invested by the specialist anti-infectives venture capital fund since it was set up two years ago to plug the gap in the early stage pipeline to $48 million.
PARIS – Mauna Kea Technologies SA, of Paris, is welcoming a major shareholder on board. The company, which developed Cellvizio optical biopsy technology for tissue imaging directly at the cellular level, reported an increase in share capital for the benefit of Johnson & Johnson Innovation, JJDC Inc. The venture capital arm of J&J has invested $8.3 million by subscribing to 5,357,142 new shares at a unit price of $1.56.
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.