FCF Fox Corporate Finance | FCF Life Sciences Biotech Venture Capital Monitor - USA - March 2021 - FCF Fox ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
FCF Fox Corporate Finance | FCF Life Sciences Biotech Venture Capital Monitor – USA March 2021 Antibody
Agenda FCF LIFE SCIENCES O V E RV I E W
FCF Life Sciences Overview
Overview Services Facts and Figures
Focus on Biotech, MedTech and HealthTech Collaboration Over Over
Life Sciences
Management Team of
with 100 years EUR 2bn
We advise innovative companies on arranging, structuring and placing equity BioScience in aggregated Life Sciences
Presentation 10
and debt transactions in a holistic financing approach. Valuation and Life Sciences transaction
Integrated based in Munich
YAFO Capital experience volume1
Financial
Modeling
Focus Areas Post- Over 7
Access to
Transaction 80 Leading regularly
FCF advises with its dedicated Life Sciences team on the following Support > 1500
completed Life EIB advisor published Life
international
transaction types: Investor Sciences in Europe Sciences
investors
Screening transactions1 reports
1 including Professionals and Life Sciences Advisors
Investor / IB
Venture China Roadshow Life Sciences Research Series
Equity
Debt Licensing
Due
Diligence
Support Life Sciences Venture Biotech Venture Capital
Capital Monitor – Europe Monitor – US
Equity & Debt
Life Sciences Team Fundraising
Financing
Strategy
Advisory Life Sciences Venture Biotech Licensing
Capital Report Monitor – China
Closing
Assistance
Prof. Dr. Arno Fuchs Dr. Alexandra Dr. Joachim Alexander Kuhn
Horst Domdey CEO Goll M. Greuel Analyst
Life Sciences Life Sciences Life Sciences Term Sheet
Advisor Advisor Advisor Negotiation Biotech Public Equity MedTech Public Equity
IPO Monitor Monitor
Execution
Support
Life
Science
Advisory Life Sciences IPO Life Sciences SPAC
Dr. Axel Polack Claus Schalper Dr. Mathias Enno Spillner Sebastian Board (extract from service
Life Sciences Life Sciences Life Sciences Report Monitor
Schott Sommer portfolio)
Advisor Advisor Director Advisor Associate
3Executive Summary
The Biotech Venture
The Biotech Venture Capital Monitor – USA Recipients
Capital Monitor –
USA is a monthly is a monthly published overview of Biotech companies, displaying The Biotech Venture Capital Monitor – USA targets the following
published overview venture capital financing trends in the US-Biotech industry recipients:
focusing on the ▪ Corporates / Executives ▪ Venture capital investors
venture capital ▪ Institutional investors ▪ Family Offices / High-net-
financing ▪ Private equity investors worth individuals
environment in the ▪ Advisors
US-Biotech Scope
segment, and can be
used as a quick The selection of companies is based on the following criteria: Availability
reference for
investors, corporates ▪ Focus on transactions with US-based Biotech companies and The Biotech Venture Capital Monitor – USA is available on FCF’s
and professionals available deal volume website at “https://www.fcf.de/life-sciences/”
▪ Companies operating in the Biotech sector
Data
▪ The Biotech sector is further divided into the following indications:
More advanced, Cardiovascular, Central Nervous System, Dermatology, Ear All input data is provided by Pitchbook or GlobalData and is not
detailed and / or Nose Throat Disorders, Gastrointestinal, Genetic Disorders, independently verified by FCF. Ratio and multiple calculations are
customized reports Genito Urinary System And Sex Hormones, Hematological driven based on the input data available. For additional information
are available upon Disorders, Hormonal Disorders, Immunology, Infectious Disease, and disclaimer, please refer to the last page
request Male Health, Metabolic Disorders, Mouth and Dental Disorders,
Musculoskeletal, Non Malignant Disorders, Nutritional Disorders,
Oncology, Ophthalmology, Respiratory, Toxicology, Women's
Health
To recommend colleagues or fellow investors to be added to the If you have questions, comments or ideas, please do not hesitate to
mailing list, kindly send an email with the respective contact contact us
information
4Agenda B I O T E C H V E N T U R E C AP I TAL T R AN S AC T I O N S - U S A MARCH 2021
Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Musculoskeletal Developer of a drug delivery platform The company raised $116 million of Series B venture funding on March 31, 2021, putting the
1 31-03-21 Entrada Therapeutics Disorders / designed to treat diseases through the B 116 203 company's pre-money valuation at $250 million. The funds will be used by the company to
25,000 Pre-clinic intracellular delivery of biologics. advance its diverse pipeline to the clinic.
20,000
15,000
8,953
10,000 Developer of cancer drugs designed to
Oncology / The company raised $106 million through the combination of debt and Series B venture funding
2 31-03-21 Tyra Biosciences target new pathways of acquired B 106 156
5,000 2021 Discovery on March 31, 2021, putting the company's pre-money valuation at $200 million.
resistance in oncology.
2020
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
Provider of cell function through protein
Oncology / The company raised $30 million of Series A venture funding on March 31, 2021. The funds will
3 31-03-21 Outpace Bio design intended to enable curative cell A 30 30
Pre-clinic be used to demonstrate proof of principle for the company's platform.
therapies.
Indications Top Investor Origins
The company raised CAD 16.1 million of venture funding on March 31, 2021. The funds will be
Others Developer of psychedelic and natural-
Oncology / used primarily to fund the Company's preclinical and clinical development of psychedelic-
Others 4 31-03-21 Wesana sourced therapies designed to treat - 13 13
19% Pre-clinic assisted therapy to treat traumatic brain injury (TBI) and to scale its senior leadership team as it
traumatic brain injury (TBI).
29% works to deliver on key milestones.
Oncology
USD 42% 5% USD
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8% Developer of antimicrobial therapeutics
intestinal 15% Infectious Disease / intended to develop a novel class of
5 31-03-21 Microbion - 4 39 The company raised $4.11 million of venture funding on March 31, 2021.
Infectious Phase II compounds for the treatment of resistant
Diseases and difficult to treat infections.
Central
Nervous
System
Top 5 Deals Top 5 Investors Central Nervous
Operator of a biopharmaceutical
6 30-03-21 AffaMed Therapeutics System / - 170 170 The company raised $170 million of venture funding on March 30, 2021.
company.
Deal Deal # of
Phase I
# Company HQ Volume Series # Investor HQ Volume1 Deals
1 EQRx 525 B 1 Logos Capital 347 17 The company raised $126 million of Series C venture funding on March 30, 2021, putting the
company's pre-money valuation at $350 million. The company will use the funding to advance
Developer of transformative precision pipeline and platform development, support the advancement of Omega's lead epigenomic
Cormorant
Immunology / therapeutics designed to deliver effective controller candidate, OTX-2002 and to advance the next wave of novel pipeline therapeutics
2 ElevateBio 525 B 2 Asset 207 17 7 30-03-21 Omega Therapeutics C 126 244
Pre-clinic and safe therapies that modulate gene that it expects to be generated by it's proprietary Omega Epigenomic ProgrammingTM platform,
Management
expression. with an initial focus in oncology, regenerative medicine, inflammation, autoimmune, metabolic
and rare genetic diseases and to continue developing the Omega Epigenomic Programming
3 Instil Bio 356 B 3 HBM Partners 201 3 platform and build a manufacturing footprint.
Centessa ARCH
4 Pharma- 250 A 4 Venture 180 4 The company raised $72.90 million through a combination of Series B1 and Series B2 venture
Developer of cancer biotherapeutics
ceuticals Partners Immune-Onc Oncology / funding on March 30, 2021, putting the company's pre-money valuation at $90 million. The
8 30-03-21 designed to revolutionize the treatment for 1 73 113
Therapeutics Phase I funds will be used to advance its portfolio of blood cancer and solid tumor immunotherapies
people with cancers.
RA Capital targeting myeloid checkpoints with a focus on the LILRB family.
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 6
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Developer of healthcare therapies created
Ophthalmology /
9 30-03-21 Nacuity Pharmaceuticals for retinitis pigmentosa and other - 3 14 The company raised $3.17 million of venture funding on March 30, 2021.
25,000 Phase II
ophthalmological disorders.
20,000
15,000
8,953
10,000 Developer of an immune-oncology
Oncology / platform designed to focus on the
5,000 10 29-03-21 Fortis Therapeutics A 40 58 The company raised $40 million of Series A venture funding on March 29, 2021.
2021 Phase I treatment of multiple myeloma and late-
2020 stage prostate cancer.
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
Central Nervous Developer of cell-based therapies
The company raised $28.33 million of Series D venture funding on March 26, 2021, putting the
11 26-03-21 Neurona Therapeutics System / designed to treat intractable neurological D 28 82
company's pre-money valuation at $160 million.
Pre-clinic disease.
Indications Top Investor Origins
Others
Developer of pH-activated compounds
Others Oncology /
19% 12 26-03-21 OncoNano Medicine designed to digitalize and exploit the B 26 62 The company raised $26.43 million of Series B venture funding on March 26, 2021.
Pre-clinic
29% variability of pH in disease.
Oncology
USD 42% 5% USD
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8%
intestinal 15% Developer of novel therapies designed to
Infectious Infectious Disease /
13 26-03-21 Vaxess Technologies help in oncology care and infectious - 2 16 The company raised $2 million of convertible debt financing on March 26, 2021.
Diseases Pre-clinic
Central disease.
Nervous
System
Top 5 Deals Top 5 Investors The company raised $40.63 million of Series C venture funding on March 25, 2021, putting the
Oncology / Developer of therapeutic antibodies company's pre-money valuation at $90 million. The funds will be used to advance the
14 25-03-21 OncoResponse C 41 110
Deal Deal # of Pre-clinic intended for the treatment of cancer. company's lead antibody, OR2805, into clinical development in multiple tumor types and fund a
# Company HQ Volume Series # Investor HQ Volume1 Deals pipeline of preclinical assets to IND.
1 EQRx 525 B 1 Logos Capital 347 17
Cormorant Respiratory Developer of a pharmacologic therapy The company raised $25 million of Series B venture funding on March 25, 2021, putting the
2 ElevateBio 525 B 2 Asset 207 17 15 25-03-21 Apnimed Diseases / intended to treat people who are affected B 25 66 company's pre-money valuation at $128 million. The funds will be used development and
Management Phase II by sleep apnea and related disorders. commercialization plans.
3 Instil Bio 356 B 3 HBM Partners 201 3
Centessa ARCH
4 Pharma- 250 A 4 Venture 180 4 Central Nervous Developer of non-steroid, non-opioid
ceuticals Partners The company raised $2.5 million of venture funding in the form of convertible debt on March 25,
16 25-03-21 Sollis Therapeutics System / analgesics created to treat pain conditions - 3 55
2021.
Phase III affecting large numbers of people.
RA Capital
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 7
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Operator of a biopharmaceutical company
Infectious Disease / The company raised $430,000 of angel funding on March 24, 2021, putting the company's pre-
17 24-03-21 Celestial Therapeutics focused on infectious diseases and -Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Central Nervous Operator of a biopharmaceutical company
25 22-03-21 MapLight Therapeutics System / intended to discover novel treatments for B 30 51 The company raised $30 million of Series B venture funding on March 22, 2021.
25,000 Phase I brain disorders.
20,000
15,000
8,953
10,000 Provider of oral iron chelator therapies
Hematological
intended to cure the specific types of The company raised $500,000 of venture funding in the form of convertible debt on March 22,
5,000 26 22-03-21 Abfero Pharmaceuticals Disorders / -Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
The company raised $81.5 million of Series B venture funding on March 16, 2021, putting the
Cumulative Financing Volume (USDm) Central Nervous company's pre-money valuation at $100 million. The company intends to use the fund to
Developer of novel gene therapies
33 16-03-21 StrideBio System / B 82 145 support organizational growth and GMP manufacturing expansion and advance its robust
25,000 designed to combat rare diseases.
Pre-clinic pipeline to the clinic, including four new wholly-owned programs targeting monogenic central
nervous system (CNS) and cardiovascular disorders.
20,000
15,000
8,953
10,000 The company raised $47 million of Series B venture funding on March 16, 2021. The funds will
Developer of a biotech drug intended to
Oncology / be used to advance the company's lead off-the-shelf natural killer (NK) cell therapy candidate,
5,000 34 16-03-21 Acepodia develop novel, targeted, allogeneic cell B 47 68
2021 Phase I ACE1702, through clinical development in solid tumors, and to advance its preclinical NK and
therapies to treat cancers.
2020 gamma delta T cell therapy pipeline into the clinic.
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
Oncology / Developer of a biotech company intended
35 16-03-21 TellBio - 5 6 The company raised $5 million of venture funding on March 16, 2021.
Pre-clinic for the treatment of cancer.
Indications Top Investor Origins
Others Operator of a portfolio of cell and gene
The company raised $525 million of Series C venture funding on March 15, 2021. The company
Others Other / therapy companies intended to develop,
19% 36 15-03-21 ElevateBio C 525 868 intends to use the funds to continue to develop and expand its technology platforms, advance
On market manufacture and commercialize life-
29% industry partnerships, and continue to develop its cell and gene therapies.
Oncology transforming medicines.
USD 42% 5% USD
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8%
intestinal 15%
Operator of a gene-editing company The company raised $150 million of Series B venture funding on March 15, 2021, putting the
Infectious Genetic Disorders / focused on the development of potentially company's pre-money valuation at $450 million. The company will use the funds to expand and
37 15-03-21 Graphite Bio B 150 195
Diseases Pre-clinic curative therapies for patients suffering advance into the clinic its pipeline of investigational high efficiency, targeted gene integration
Central
Nervous from serious diseases. therapies with curative potential for serious diseases.
System
Top 5 Deals Top 5 Investors
Developer of innovative medical treatment The company raised $16 million of Series A venture funding on March 15, 2021. The funding
Infectious Disease /
38 15-03-21 VLP Therapeutics intended to transforms traditional A 16 16 will be used to accelerate the project well underway in the US and move into clinical trials at the
Deal Deal # of Phase II
vaccines. earliest date possible.
# Company HQ Volume Series # Investor HQ Volume1 Deals
1 EQRx 525 B 1 Logos Capital 347 17
Cormorant Developer of novel immunotherapies
2 ElevateBio 525 B 2 Asset 207 17 Oncology /
39 12-03-21 Virion Therapeutics designed to treat cancers and infectious - 5 11 The company raised $5 million of convertible debt financing on March 12, 2021.
Management Pre-clinic
diseases.
3 Instil Bio 356 B 3 HBM Partners 201 3
Centessa ARCH
4 Pharma- 250 A 4 Venture 180 4 The company raised $95 million of Series C venture funding on March 12, 2021. The funds will
Developer of cancer therapeutics intended
ceuticals Partners Monte Rosa Oncology / be used to advance its lead development candidate into the clinic, accelerate pipeline growth
40 12-03-21 to modulate protein degradation C 95 229
Therapeutics Pre-clinic and bolster its platform capabilities to rationally design and develop small molecule degraders
pathways.
RA Capital (also known as molecular glues) that hijack the body's innate ability to degrade proteins.
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 10
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Central Nervous Developer of intranasal drug delivery
The company raised $7.5 million of venture funding in the form of convertible debt on March 12,
41 12-03-21 Impel NeuroPharma System / technology intended to treat central - 8 140
25,000 2021.
Pre-registration nervous system disorders.
20,000
15,000
8,953
10,000
Developer of topical drugs intended for
Ophthalmology /
5,000 42 12-03-21 iView Therapeutics applications in ophthalmology, - 7 13 The company raised $6.98 million of venture funding on March 12, 2021.
2021 Phase II
dermatology and otolaryngology.
2020
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
The company raised $21 million of Series D venture funding on March 11, 2021. The funds will
Gastrointestinal / Developer of therapeutic novel drugs
43 11-03-21 CalciMedica D 21 94 be used to support the clinical development of CalciMedica's portfolio of CRAC channel
Phase II designed to treat acute immune disorders.
inhibitors including Auxora.
Indications Top Investor Origins
Others The company raised $4.5 million of venture funding in the form of bridge financing on March 11,
Developer of rational microbiome
Others Dermatology / 2021. Of the total amount, $1.5 million was originally raised in the form of convertible debt and
19% 44 11-03-21 MatriSys Bioscience therapies intended to treat patients - 5 6
Phase II subsequently converted to equity. The funds will be used to advance its portfolio of products to
29% suffering from skin diseases.
Oncology treat inflammatory skin diseases.
USD 42% 5% USD
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8%
intestinal 15% Developer of second-generation anti-
Infectious Oncology /
45 11-03-21 Arch Oncology CD47 antibodies designed to offer B 3 89 The company raised $2.5 million of Series B venture funding on March 11, 2021.
Diseases Phase II
Central treatment for solid tumors.
Nervous
System
Top 5 Deals Top 5 Investors
Developer of oncology therapeutics The company raised $25 million of Series B venture funding on March 10, 2021. Proceeds from
Oncology /
46 10-03-21 Cybrexa Therapeutics designed for antigen-independent B 25 69 the financing will be used to support the planned advancement of Cybrexa's lead candidate
Deal Deal # of Pre-clinic
intracellular drug delivery. CBX-12 (alphalex™-exatecan) into the clinic.
# Company HQ Volume Series # Investor HQ Volume1 Deals
1 EQRx 525 B 1 Logos Capital 347 17
Cormorant Developer of respiratory therapeutics
Respiratory
2 ElevateBio 525 B 2 Asset 207 17 technology intended to reduce morbidity
47 10-03-21 Pulmotect Diseases / - 4 17 The company raised $3.5 million of venture funding on March 10, 2021.
Management and mortality in patients at risk of severe
Phase II
respiratory diseases.
3 Instil Bio 356 B 3 HBM Partners 201 3
Centessa ARCH
4 Pharma- 250 A 4 Venture 180 4 Respiratory
ceuticals Partners Developer of probiotic therapies intended
48 10-03-21 ResBiotic Diseases / - 2 2 The company raised $1.6 million of angel funding on March 10, 2021.
to restore a healthy lung microbiome.
Pre-clinic
RA Capital
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 11
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Developer of small-molecule drug The company raised $114 million of venture funding on March 9, 2021. The funds will be used
Gastrointestinal /
49 09-03-21 Ventyx Biosciences candidates intended to treat inflammatory - 114 114 to accelerate the clinical development of immunology programs and advance preclinical
25,000 Phase I
diseases and autoimmune disorders. programs against novel drug targets with the prolific drug discovery engine.
20,000
15,000
8,953
10,000 Operator of a clinical-stage company The company raised $36 million of Series A venture funding on March 9, 2021. The funds will
Ophthalmology / intended to develop presbyopia-correcting be used to advance the clinical development program for the company's lead asset,
5,000 50 09-03-21 Visus Therapeutics A 36 36
2021 Phase II eye drop with the potential to last a BRIMOCHOL™, an investigational drug designed to be a once-daily eye drop to correct for the
2020 minimum of eight hours. loss of near vision associated with presbyopia.
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
Developer of modern treatments intended
Immunology / The company joined an Accelerator on March 6, 2021 and received $125,000 in funding in the
51 06-03-21 Entelexo Biotherapeutics to assist in the treatment of immune- -Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) The company raised $160 million of Series C venture funding on March 3, 2021, putting the
Developer of allogeneic living drugs
Oncology / company's pre-money valuation at $640 million. The funds will be used to advance the
57 03-03-21 Century Therapeutics designed to overcome the limitations of C 160 485
25,000 Pre-clinic company's rich pre-clinical pipeline, which includes multiple iPSC-derived CAR-iT and CAR-
first-generation cell therapies.
iNK cell products.
20,000
15,000
8,953
10,000
Developer of medical gene editing The company raised $70 million of Series A venture funding through a combination of debt and
Infectious Disease /
5,000 58 03-03-21 Excision therapeutics designed to assist in the A 70 81 equity on March 3, 2021. The funds will be used to start an early-stage clinical trial aimed at
2021 Pre-clinic
treatment of neurotrophic viruses. chronic HIV infection.
2020
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
The company raised $56 million of Series A venture funding on March 3, 2021. The financing
Developer of biologic therapeutics
Oncology / will be used to advance Janux's preclinical pipeline, including a TROP2-TRACTr and PSMA-
59 03-03-21 Janux Therapeutics designed to create new therapeutic A 56 76
Pre-clinic TRACTr, with expected advancement of the Company's first candidate into the clinic in the first
options for cancer patients.
half of next year.
Indications Top Investor Origins
Operator of a biotechnology company
Others
designed to transform scientific advances
Others Oncology /
19% 60 03-03-21 Asylia Therapeutics into safe and effective medicines for - 8 8 The company raised $8.19 million of venture funding on March 3, 2021.
Pre-clinic
29% cancer, autoimmune and infectious
Oncology
USD 42% 5% USD diseases.
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8%
intestinal 15% Central Nervous Developer of mitochondrial therapeutics
Infectious 61 03-03-21 Gene Solutions System / designed to enhance drug pipelines in the A 2 4 The company raised $2.37 million of Series A venture funding on March 3, 2021.
Diseases
Central Pre-clinic field of central nervous system diseases.
Nervous
System
Top 5 Deals Top 5 Investors
Developer of medical compounds
Metabolic Disorders /
62 03-03-21 Santa Barbara Nutrients intended to keep up kidney health with - 1 1 The company raised $1.23 million of angel funding on March 3, 2021.
Deal Deal # of On market
research backed ingredients.
# Company HQ Volume Series # Investor HQ Volume1 Deals
1 EQRx 525 B 1 Logos Capital 347 17
Cormorant Developer of human monoclonal
2 ElevateBio 525 B 2 Asset 207 17 Infectious Disease /
63 02-03-21 IDBiologics antibodies intended for the prevention, A 4 4 The company raised $4.3 million of Series A venture funding on March 2, 2021.
Management Phase I
treatment, and cure of infectious diseases.
3 Instil Bio 356 B 3 HBM Partners 201 3
Centessa ARCH The company raised $106 million of Series C venture funding on March 1, 2021, putting the
4 Pharma- 250 A 4 Venture 180 4 company's pre-money valuation at $270 million. The funds will be used to advance its lead
ceuticals Partners Cardiovascular / Developer of novel therapies designed to
64 01-03-21 Tenaya Therapeutics C 106 248 gene therapy program towards clinical studies; progress new programs towards IND-enabling
Pre-clinic offer treatment for heart disease.
studies; build on existing drug discovery and development capabilities across its three platforms
RA Capital and invest in cGMP manufacturing capabilities.
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 13
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Biotech Venture Capital Transactions - USA
March 2021
Deal Total
Vertical - Indication / Volume Raised
Overview (YTD) # Date Company Stage Company Description Series (USDm) (USDm) Deal Synopsis
Cumulative Financing Volume (USDm) Developer of an RNA-based therapeutics The company raised $100.2 million of Series B venture funding on March 1, 2021, putting the
Ophthalmology /
65 01-03-21 DTx Pharma designed to aid in personalized treatment B 100 112 company's pre-money valuation at $45 million. The funds will be used for further platform
25,000 Pre-clinic
across most therapeutic areas. development and also accelerate the path toward clinical development
20,000
15,000
8,953
10,000 Developer of a small molecule drug
The company raised $73 million of Series A venture funding on March 1, 2021. The company
Oncology / discovery platform designed to focus on
5,000 66 01-03-21 BlossomHill Therapeutics A 73 73 intends to use the fund to the research and development efforts and advance lead pipeline
2021 Discovery unmet medical needs in oncology and
projects into clinical development.
2020 autoimmune disorders.
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Financing Volume (March 2021): USD 3,633m
Developer of cell-penetrating mini proteins The company raised $107 million of Series C venture funding on March 1, 2021, putting the
Oncology / (CPMPs)designed to target cancer- company's pre-money valuation at $150 million. The funds will be used to advance its lead,
67 01-03-21 FogPharma C 107 184
Pre-clinic causing proteins inside cancer cells and only-in-class Helicon peptides aimed at addressing substantial cancer patient populations into
neutralize them. clinical development.
Indications Top Investor Origins
The company raised $59 million of Series B venture funding on March 1, 2021, putting the
Others
Developer of gene-modified macrophage company's pre-money valuation at $141 million. The funds will be used to advance current
Others Oncology /
19% 68 01-03-21 Carisma Therapeutics cell therapies intended to treat solid B 59 121 pipeline and discovery programs, including the Phase I clinical trial, further develop its
Phase I
29% tumors. proprietary engineered-macrophage platform, continue pipeline expansion in cancer indications
Oncology
USD 42% 5% USD and enable the platform's application to disease areas outside of cancer.
Genetic
8,953m 5% 8,953m
Disorders 3%
3% 71%
Gastro- 8%
intestinal 15%
Infectious
Diseases
Central
Nervous
System
Top 5 Deals Top 5 Investors
Deal Deal # of
# Company HQ Volume Series # Investor HQ Volume1 Deals
1 EQRx 525 B 1 Logos Capital 347 17
Cormorant
2 ElevateBio 525 B 2 Asset 207 17
Management
3 Instil Bio 356 B 3 HBM Partners 201 3
Centessa ARCH
4 Pharma- 250 A 4 Venture 180 4
ceuticals Partners
RA Capital
5 Affinivax 226 C 5 172 18
Management
Source: PitchBook as of 12.04.2021; FCF Equity Research; GlobalData
Note: All volumes in USDm; financing rounds without deal values are excluded 14
1 Proportional attribution of deal values to investors participating in a transaction (transaction volume / # investors by financing round)Contact Details & Disclaimer
DISCLAIMER
This document does not constitute an offer or invitation to purchase or
subscribe for any securities, and neither this document nor anything contained
herein shall form the basis of or may be relied upon in connection with any
contract or commitment whatsoever. No representation or warranty (express or
FCF Fox Corporate Finance GmbH implied) is made as to, and no reliance should be placed on, any information,
including projections, estimates, targets and opinions, contained herein, and no
Maximilianstrasse 12-14 ▪ 80539 Munich ▪ Germany liability whatsoever is accepted as to any errors, omissions or misstatements
Telephone +49 (89) 206 0409-0 ▪ Facsimile +49 (89) 206 0409-299 contained herein, and, accordingly, neither FCF nor any of its officers, directors
info@fcf.de ▪ www.fcf.de or employees accepts any liability whatsoever arising directly or indirectly from
the use of this document. By accepting this document you acknowledge that
you will be solely responsible for your own assessment of the market and the
market position of the Company and that you will conduct your own analysis
and be solely responsible for forming your own view of the potential future
Arno Fuchs Dr. Mathias Schott performance of the Company's business. This document contains certain
Chief Executive Officer Director
forward-looking statements, including assumptions, opinions and views cited
P: +49 (89) 206 0409-100 P: +49 (89) 206 0409-123 from third party sources. Various known and unknown risks, uncertainties and
M: +49 (172) 863 6777 M: +49 (174) 301 1846
other factors could cause the actual results, financial position, development or
arno.fuchs@fcf.de mathias.schott@fcf.de
performance of the Company to differ materially from the estimations
expressed or implied herein. FCF does not guarantee that the figures,
assumptions and calculations underlying such historical and forward looking
Sebastian Sommer Alexander Kuhn statements are free from errors nor does FCF accept any responsibility for the
Associate Analyst
future accuracy of the opinions expressed in this document or the actual
P: +49 (89) 206 0409-130 P: +49 (89) 206 0409-120 occurrence of the forecasted developments.
M: +49 (172) 839 5738 M: +49 (173) 590 6671
sebastian.sommer@fcf.de alexander.kuhn@fcf.de © FCF Fox Corporate Finance GmbH 2021
15You can also read
