The attention the COVID-19 pandemic drew to the biopharma industry, the ease and convenience of virtual meetings, as well as massive amounts of available capital, all led to an extraordinary year for financings in 2020. The momentum appears to be continuing, particularly with venture capital rounds.
A decade from now, 2020 likely will be considered a year like no other in terms of the massive amounts of capital raised amid a raging pandemic. Financing transactions of all types smashed records and in terms of volume hit 1,580, a total that was 42% higher than last year despite the serious disruptions to normal business operations.
When uncertainty strikes, survival instincts flourish. That is exactly how the biopharma industry weathered 2020 and the global spread of the devastating SARS-CoV-2 virus. “The theme for 2020 was, ‘If the capital is there, take it. It’s an uncertain future’,” said Gabriel Cavazos, managing director in investment banking at SVB Leerink.
HONG KONG - U.S. and China-based Terns Pharmaceuticals Inc. closed an $87 million series C financing round that will pave the way for the company’s pipeline of candidates to treat nonalcoholic steatohepatitis (NASH).
LONDON – Theolytics Ltd. raised $6.8 million in a series A round to further develop its platform technology and advance the lead oncolytic virus program toward the clinic.
Ablacon Inc. has revealed the close of a $30 million series B financing, with Zeus Health joining as new lead investor. The company intends to use the funds to advance its product portfolio and expand patient access to the Ablamap system, which has the CE mark.
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