Finance Watch: Genesis, Rapport, Cellares Raise Venture Capital Mega-Rounds

Founder Launched With A $29.6m VC Fund

 
• By Mandy Jackson
  
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Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.

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Venture capital funding for biopharmaceutical companies overall may be down in 2023, but that does not mean that investors have stopped placing big bets on the industry. Three companies announced recent VC mega-rounds of greater than $100m – Genesis Therapeutics with a $200m series B financing, Rapport Therapeutics with a $150m series B and Cellares with a $255m series C round.

VC investment in biopharma firms rose slightly from the first quarter to second quarter, from $4.9bn to $5bn, but the...

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