BIOTECH FINANCING SUMMARY October 2016

Transcription

1 BIOTECH FINANCING SUMMARY October 2016 In September, we saw that the number of Biotech financing rounds in the (Therapeutics and ) slightly decreased in comparison to August However, the aggregate financing value in the US has more than doubled from USD 507m in August to USD 1.1b in September. In Europe, after zero financing rounds in August, eight rounds took place in September The previous 12-month average of the aggregate financing value (USD 175m) is still significantly higher than the European aggregate financing value in September (USD 119m). Financings obtained by the US-based companies Moderna Intarcia were the main driver for the higher aggregate value in the US. Continue reading below to learn more about the financing highlights of September The graph contains only financing rounds of private and biotech therapeutic and diagnostic companies. Financing amounts and number of rounds from previous months may alter as new information on financing rounds is received and/or new tranches to existing financing rounds are added. All data supplied and available from Biotechgate 1

2 Selected Financing Highlights Moderna closes USD 474m financing and a BARDA grant up to USD 125m for Zika vaccine CAMBRDIGE, MA - Moderna a clinical biotech company pioneering mrna Therapeutics to create a new generation of transformative medicines for patients, announced on 7 September 2016 that it has raised USD 474m. With this financing completed, Moderna currently has the potential for over USD 230m of additional available funds from committed by the Bill & Melinda Gates Foundation, the Biomedical Advanced Research and Development Authority (BARDA), a division of the Office of the Assistant Secretary for Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services (HHS), and the Defense Advanced Research Projects Agency (DARPA). (Source: Press release) Intarcia Therapeutics closes USD 215m equity financing BOSTON, MA Intarcia announced on 15 September 2016 the first closing of a major equity financing that puts the company in a strong strategic and financial position over the next 2-3 years as it prepares for the potential approval and launch of ITCA 650 late next year, and the parallel progression of several novel pipeline programs in major chronic diseases like diabetes, obesity and auto-immune/inflammation. The first close of USD 215m financing includes subscriptions from new world-class institutional investors, family offices, and our first large and long-term oriented VC/PE fund located in China. The first close also includes support from existing investors that have come into the company over the last 5-6 years. (Source: Press release) Relay Therapeutics raises USD 57m in series A financing CAMBRIDGE, MA Third Rock Ventures, LLC announced on 14 September 2016 the formation of Relay Therapeutics with USD 57m in Series A financing, including participation from an affiliate of D. E. Shaw Research, LLC. Relay Therapeutics is building the world s first dedicated drug discovery platform centered on protein motion, with the aim of designing and developing new medicines that will make a transformative difference for patients. Relay s novel approach will build on recent scientific and technological advances in structural biology, biophysics, computation, chemistry and biology to create an integrated drug discovery engine fueled by a detailed understanding of the dynamic structural changes undergone by protein molecules within the body. (Source: Press release) All data supplied and available from Biotechgate 2

3 Proportion of Financing Rounds by Series The distribution of private financing by series in Biotech companies ( ) has changed notably in Q when compared with the previous quarter. Q reported a strong increase in the proportion of Series A (44% from 30%) and in the proportion of Series D funding (10% from 0%). These Series gained importance at the expense of financing which was non-classified. When compared with Q3 2015, the major difference lays again in the proportion of Series A financing. Series A financing jumped from only 24% in Q to 44% in Q In comparison to Q3 2015, non-classified and Series B financing are significantly less represented. The graph above shows the proportion of financing rounds by product development phase. The dataset includes only private Biotech ( ) companies from the U.S. and Europe. The proportion of financing from previous months may alter as new information on financing rounds is received and/or new tranches to existing financing rounds are added. All data supplied and available from Biotechgate 3

4 Proportion of Financing Rounds by Investment Size The financing flowing into investment size of USD 30m+ continued to be the largest in Q and it only decreased by 1% from 39% of all financings in Q to 38% in Q The proportion of investments in the range of USD 15m-USD 30m increased significantly to 21%. Also the financings in the 5m-15m range account for a larger proportion (25% from 19%). The mid range investments gained importance at the expense of the below USD 5m range. A comparison of Q and Q reveals little differences in the proportions. A minor point of difference would be the decrease in investments below USD 5m by 33% from 26% to 17%. The graph above shows the proportion of financing for private biotech companies (therapeutics and diagnostics) by series. The dataset includes only private Biotech ( ) companies from the US. and Europe. The proportion of financing from previous months may alter as new information on financing rounds is received and/or new tranches to existing financing rounds are added. All data supplied and available from Biotechgate 4

5 Worldwide Financing 1 Rest of the world. The table above shows the total global financing in biotechnology in the therapeutics and diagnostics subclass. All data supplied and available from Biotechgate 5

6 Financing Rounds Summary September 2016 Source: Biotechgate Company Name Sector Amount (in Million USD) ResQ Pharma, Immunic AG Color Genomics Biotechnology / R&D Services Type of Round 0.7 Series A / 19.6 Series A / 27.0 Series B / 2. Round Financing Stage Seed First Ownership Country Germany SentreHEART, Medical Technology 35.0 Series D / 4. Round Later Dilafor AB MicuRx Pharmaceuticals, 6.0 Other Other 55.0 Series C / 3. Round Sweden Cyclica Biotechnology / R&D Services 2.4 Series A / First Canada AgroSavfe NV other 8.7 Series B / 2. Round First Belgium iomx Therapeutics AG Leukos Biotech 44.8 Series A / 3.9 Other Germany Spain Spineart SA Medical Technology 33.6 Other CivaTech Oncology, Medical Technology 2.3 Other Research TenNor Therapeutics Ltd Series B / 2. Round China (Mainland) Eyevensys S.A.S. Peloton 10.1 Series A / 52.4 Series D / 4. Round First France Intarcia Neural Analytics Other n/a Medical Technology 3.0 Other Research All data supplied and available from Biotechgate 6

7 Delinia Relay Therapeutics BrainVectis Credence MedSystems 35.0 Series A / 57.0 Series A / 1.1 Series A / Medical Technology 15.0 Series A / France Mperia Advantagene Inflazome Ltd. 0.8 Series A / 14.0 Series A / 17.0 Series A / n/a First Recerca Clinica Biotechnology / R&D Services 0.3 Other Other AcuFocus, Medical Technology 66.0 Other Other Canada Ireland Spain Made of Genes Biotechnology / R&D Services 0.6 Other Spain Armune BioScience, Vivasure Medical Ltd. 5.0 Series A / Medical Technology 18.2 Series C / 3. Round First Ireland Agrivida, other 20.4 Series E / 5. Round Later Chrono Therapeutics Pharma 47.6 Series B / 2. Round Proclara Biosciences Moderna Therapeutics Moderna Therapeutics Rigontec GmbH 47.0 Series E / 5. Round Later Other Research Other n/a 16.8 Series A / DermoSafe SA Medical Technology 0.5 Other Seed Germany Tetra Discovery Partners LLC. 5.3 Other Elanix Biotechnologies 1.7 Other Other All data supplied and available from Biotechgate 7

8 Immune Pharmaceuticals 2.0 Other Capricor Oryzon Genomics Matinas BioPharma Holdings Capricor CytoDyn Emergent BioSolutions Neuralstem, Histogenics Corporation Novan Therapeutics 2.4 Other Research 5.9 Other Convertible loan 8.0 Other Other 10.0 Other Post-IPO 10.0 Other Other 16.0 Other Research 20.0 Other Research Medical Technology 30.0 Other Other MyoKardia, AC Immune SA CoLucid Pharmaceuticals, Inc Proteostasis 45.0 Other IPO 57.0 Other Post-IPO 57.8 Other IPO 65.0 Other Post-IPO 65.0 Other Post-IPO Spain UD: Undisclosed All data supplied and available from Biotechgate 8

9 About this summary The is published on a monthly basis by Venture Valuation and can be downloaded for free either from our newsletter or from the website The data used for this summary is taken from Venture Valuation s global Biotech and life science database Biotechgate, if not explicitly stated otherwise. Biotechgate is a popular source for life sciences company and licensing deal information. If you are interested in learning more, please do not hesitate to contact us and to apply for a trial. Visit our website and try Biotechgate: Venture Valuation Kasernenstrasse Zurich Phone: +41 (43) Web: contact@venturevaluation.com Copyright 2016 Venture Valuation VV Ltd. All rights reserved. This report is provided for information purposes only. All information regarding financing rounds, deal summaries and merger and acquisition transactions was obtained from company websites, press-releases, conference profiles and different industry newsletters. The data contained in the tables and graphs can also be accessed on the Biotechgate website. All graphical information was provided via Biotechgate. While the information contained herein has been obtained from sources deemed reliable, Venture Valuation VV Ltd makes no guarantees that it is accurate, complete, timely, or sequential. For more information about Biotech companies, including deal, licensing and financing round details, please visit the Biotechgate website at All data supplied and available from Biotechgate 9