DUBLIN – Biogeneration Ventures (BGV) raised €105 million (US$118.7 million) for its fourth fund, further brightening the prospects for early stage investing in European biotech. The fund’s closing immediately follows that of Epidarex Capital, which earlier this week announced it had raised £102.1 million (US$126.3 million) for its third fund.

Up-and-coming cell and gene engineering company Sana Biotechnology Inc. raised $700 million in a first round financing, bumping Moderna Inc., which previously had the highest venture capital (VC) financing of a traditional biotech company to date.

LONDON – Epidarex Capital announced the closure of its £102.1 million (US$126.3 million) third fund, which will invest in very early stage biomedical and med-tech spin-outs from high-class but “under-ventured” universities in regions of the country where venture money is in short supply.

Against a backdrop of general economic uncertainty bolstered in part by a strong biopharma market, two IPOs launched June 19 and ended their first trading day well above their high-end asking prices. Repare Therapeutics Inc., which identifies synthetic lethal precision oncology targets for drug candidates, and Forma Therapeutics Holdings Inc., which is developing therapeutics to treat rare hematologic diseases and cancers, launched IPOs with an anticipated combined value of $497.6 million in gross proceeds.