Record Breaking First Half For Start-Ups Raising Cash In Europe
The first half of 2018 appeared promising for the European biopharma sector, with multiple large investment funds promising cash to young, innovative companies in the region – a turnaround after years of life science firms suffering from a funding drought across Europe.
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Freeline Therapeutics, I-Mab Biopharma, Kaleido Biosciences and Precision BioSciences raised more than $100m each, but Chinese start-ups continue to bring in some of this year's largest venture capital mega rounds, with $220m in Series C cash to fund development of immuno-oncology and inflammatory disease drug candidates.
Crescendo Biologics raises $70m to take its first Humabody asset into clinical trials for prostate cancer; the company’s CEO Peter Pack tells Scrip more about its diverse financiers and plans for big pharma partnering in the future.
In one of the bigger private financing rounds seen this month so far, British genomics firm Oxford Nanopore Technologies has raised £100m ($140m) from a syndicate of APAC investors to expand its commercial activities. The latest funding round values the company at £1.5bn.