Fierce Biotech Fundraising Tracker '23: HighTide washes up $107M; Metagenomi hauls in $100M

Preview

来源: FierceBiotech

We're kicking off 2023 with a new Fierce Biotech Fundraising Tracker to keep the pulse on biotech financing.

We've launched a new Fierce Biotech Fundraising Tracker for 2023 to track all the venture capital flowing into the industry.

While biotech VC investments in 2022 failed to live up to 2021's banner year, the second half still saw a steady stream of fundraises over $30 million. Now, the industry enters the new year with bated breath, wondering what this year could bring after the swing from high to low.

Like last year's tracker, we will continue to include any fundraising rounds north of $30 million. We'll still profile exciting new companies and larger rounds in-depth, but we’re hoping to focus more coverage on clinical trial results, special reports and enterprise stories to give readers insights they can't find elsewhere.

January

Jan. 5—Ensoma

CEO: Emile Nuwaysir, Ph.D.

Series: B

Amount: $85 million

Investors: Co-led by Arix Bioscience and 5AM Ventures, plus F-Prime Capital, Cormorant Asset Management, Viking Global Investors, Takeda Ventures, Inc., SymBiosis, Alexandria Venture Investments, Fred Hutchinson Cancer Center, the Bill & Melinda Gates Foundation, Qatar Investment Authority, Catalio Capital Management, Solasta Ventures and Mirae Asset.

Genomic medicines biotech Ensoma has snagged $85 million in a series B, while also sealing an acquisition deal for CRISPR engineering company Twelve Bio. Ensoma plans to use the funds to advance its Engenious in vivo engineered cell therapy platform as well as accelerate its pipeline. The acquisition will expand the Engenious platform and boost Ensoma's ability to develop the next generation of genome editors for new medicines that address rare and prevalent disease. Twelve Bio was seeded by Arix Bioscience. Financial details of the acquisition were not disclosed. Release

Jan. 5—HighTide Therapeutics

CEO: Liping Liu, Ph.D.

Series: C/C+

Amount: $107 million

Investors: TCM Healthcare Fund of Guangdong, Yuexiu Fund and Yuthai Fund

A strong $107 million financing has swept in for Shenzhen, China-based HighTide Therapeutics, which is pursuing novel multifunctional therapies for metabolic and digestive diseases. The clinical-stage biopharma will use the funds for multiple global development programs, including mid- and late-stage clinical trials. HighTide’s lead asset is HTD1801, under development for complex metabolic and digestive diseases. The treatment is currently being investigated in phase 2 trials for type 2 diabetes, nonalcoholic steatohepatitis and primary sclerosing cholangitis. The company raised a $60 million series B+ round at the end of 2020. Release

Jan. 5—Metagenomi

CEO: Brian C. Thomas

Series: B extension

Amount: $100 million

Investors: Novo Holdings A/S, Catalio Capital Management, SymBiosis and other unnamed investors

The $100 million extension round brings Metagenomi's series B total to a hefty $275 million and comes on the heels of partnerships with Big Pharma Moderna and Ionis Pharmaceuticals. The gene editing company plans to use the new money to advance its lead therapeutic programs through preclinical development and into clinical proof-of-concept studies. The California-based biotech also intends to nominate additional therapeutic targets to its genetic medicines pipeline. Release

Jan. 5—Perceive Biotherapeutics

CEO: K. Angela Macfarlane

Series: B

Amount: $78 million

Investors: Johnson & Johnson Innovation, Deerfield Management, Braidwell, the Retinal Degeneration Fund and Catalio Capital Management

The San Francisco biotech has received a large vote of confidence from Big Pharma J&J's venture arm, which led the series B financing round. The company is focused on developing gene therapies and other treatments for eye diseases with high unmet need. The biotech has identified protective biological targets that they believe they can use to develop therapies for addressing over half of currently untreatable retinal blindness. The new money will go toward advancing programs in geographic atrophy/age-related macular degeneration, glaucoma and other undisclosed disease areas. Release

Jan. 4—Belharra Therapeutics

CEO: Jeff Jonke

Series: A

Amount: $50 million

Investors: Versant Ventures

Belharra emerged from stealth with a total of $130 million in capital thanks to a $50 million series A plus a multi-year collaboration with Genentech. Belharra’s tech boasts a “library” of photoaffinity-based chemical probes, which are commonly used in drug discovery, to explore protein-ligand interactions in the cell. The company is helmed by Jeff Jonker, who previously held upper leadership roles at Ambys Medicines and NGM Biopharmaceuticals. Release

Jan. 3—Apnimed

CEO: Larry Miller, M.D.

Series: C extension

Amount: $79.75 million

Investors: Alpha Wave Ventures, Sectoral Asset Management, Columbia-Seligman Investments, Tao Capital Partners and other unnamed investors.

The Massachusetts-based biotech aiming to treat obstructive sleep apnea (OSA) and related disorders has raised an oversubscribed $79.75 million round that extends its series C financing to a total of $142.25 million. The money will go toward the planned phase 3 trials for Apnimed’s lead candidate, dubbed AD109, that could be the first oral treatment for OSA if approved. The clinical trials are expected to start enrollment in the second quarter of 2023 pending discussions with the FDA. Release

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