$10B+ to Biotech Funds, Big Pharma vs. Biotech, and Biotech in National Security

Biotechnology

Oct 06, 2024

Good morning,

It’s Sunday Funday, but before you head out for your boozy brunch, let’s run through some of the Biotech news of the week. Eli Lilly is planning a major investment into an advanced drug manufacturing facility—drugs which they’ll undoubtedly sell at a 200x premium before cutting the premium to 50x ‘out of altruism.’ Finnish startup Uute Scientific is taking a very different tack and looking for natural approaches to combat diseases, rather than advanced drugs. More than $10B has been raised by PE and VC firms focused on biotech recently. Maybe this flood of cash will translate into real investments in various biotech and bio defense fields.

So, raise you mimosa because it’s not Monday, yet.

Let’s go!

Biotechnology News Headlines:

Army researchers take aim at sepsis in burn patients using AI/ML (S&S)
Can the billion dollar bet on biotech finally reverse aging? (BI)
Chinese biotechs WuXi AppTec and WuXi Biologics are exploring selling some of their operations on US national security concerns (FT)
Big pharma, biotech relations 'won't necessarily be symbiotic' in future AI landscape: S&P (FB)
Legend Biotech to set up new R&D facility in Philadelphia (RT)
Eli Lilly plans $4.5B 'foundry' for advanced drug manufacturing (BPD)
Virica Biotech and Ginkgo Bioworks announce partnership to accelerate AAV gene therapy manufacturing (BW)
Biotech continues to suffer layoffs; 13 companies have cut over 1,400 jobs in Q3 (BJ)
Finnish biotech startup Uute Scientific uses natural approach to atopic dermatitis (TEU)

Deal Flow

Funds

Frazier Life Sciences adds $630M to evergreen fund focused on small-, mid-cap biotechs (FB)
DCVC Bio founders look for more quick returns, less overhyped AI, with new $400M fund (ST)
Paris-based Kurma Partners has held a €140M first close for Biofund IV, a €250M VC fund (TFN)
Summit Partners, a Boston-based PE firm, raised $9.5B for its twelfth fund focused on tech, healthcare and life sciences, and growth products and services (BW)
Empire State Development announces opening of $9M Biotech Incubator Harlem Biospace (ESD)

VC

Anti-obesity startup Kailera Therapeutics raises $400M as weight-loss drug market heats up (RT)

Aktis Oncology, which specializes in treatment for cancerous tumors, raised a $175 million Series B led by RA Capital Management (PRN)
Nusano, which produces radioactive materials for use in pharmaceuticals, raised over $115M in a Series C led by Wasatch Group (CB)
Triveni Bio raised $115M in a Series B round led by Goldman Sachs Alternatives to expand pipeline of therapeutics addressing immunological and inflammatory disorders (PRN)
Enara Bio, a UK-based developer of immunotherapies for solid tumors, secured a $32.5M Series B led by Pfizer Ventures and M Ventures (PhT)
Nym, a NY-based developer of an autonomous medical coding engine for the healtchcare system, raised a $47M round led by PSG (BW)
Integrated Biosciences, a therapeutics developer for age-related diseases, raised $17.2M in seed funding led by Sutter Hill Ventures (FSME)
Rippl, a Seattle-based virtual dementia care platform, raised $23M in Series A funding (GW)

Air Doctor, a startup connecting travelers with doctors, raised a $20M Series B led by aMoon (TC)
Microbiome startup Sequentia Biotech raises €10M in Serie A led by Seventure Partners (OP)
Hybrid healthcare startup Rezilient Health raised a $10M Series A led by Govo Venture Partners (PRN)

Exits

Septerna, a biotech company developing treatments for thyroid diseases, has filed for an IPO (MW) )

Opportunities

DARPA is seeking new and non-traditional proposers to provide innovative ideas around AI/ML to the Bio Tech Office (SAM)
DTRA has released a BAA for fundamental research in chemical and biological technologies to support defense against WMDs (SAM)

Hiring in Biotech

Noblis - Biological Warfare Analyst

Noblis is hiring a Biological Warfare Analyst to perform BW analysis including blue analysis of the U.S.’s ability to meet threats; identifying technological capabilities, security, and vulnerabilities of BW programs; performing analysis on proliferation of BW capabilities.
Noblis is a 25+ year old government-contracted non-profit. Any profits are reinvested into R&D.
This position requires an active TS/SCI clearance with a CI polygraph.

Apply Now!