Seaport Therapeutics Inc. has closed an oversubscribed $225 million series B financing round to support its work developing novel neuropsychiatric medicines.
China’s Tencent Technology Co. Ltd. has invested S30 million in Insighta Ltd., an early cancer detection company that was set up as a $200 million joint venture by Prenetics Global Ltd. and inventor Dennis Lo to revolutionize multi-cancer detection.
Nyxoah SA recently raised $27 million after selling three million shares in a bid to shore up its capital base as it prepares to commercialize Genio — its obstructive sleep apnea technology — in the U.S.
Sunbird Bio Inc. closed an additional financing round of $14 million Oct. 16, reeling in new funding from Eli Lilly & Co. and the Singapore Economic Development Board’s investment arm, EDBI Pte Ltd.
Backed by AI technology, Aigen Sciences Inc. raised ₩12 billion (US$8.8 million) in a series A financing round to further advance its cancer and rare disease drug pipelines.
Biopharma companies secured $16.31 billion in financing during the third quarter (Q3) of 2024, marking a 29% decrease from the $23.07 billion raised in Q2 and a 65% drop from Q1’s $47.25 billion. Despite the quarterly decline, year-to-date financings through September reached $86.63 billion, surpassing the total annual figures of both 2023 ($70.97 billion) and 2022 ($60.81 billion). Only the record-setting years of 2020 and 2021 saw higher amounts raised.
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