Project Evolution

A summary of the latest stories from the Philadelphia Ecosystem for July 2024. Sponsored by Berke Search

Genetic Engineering & Biotechnology News (GEN)  has released its updated rankings of the top 10 biopharma clusters for 2024. We've compiled a historical overview of these rankings from 2016 to the present. Boston/Cambridge retains its position as the leading cluster, with the San Francisco Bay Area holding steady in second place. The BioHealth Capital Region remains at third. New York/New Jersey, San Diego, and Greater Philadelphia are ranked fourth, fifth, and sixth, respectively. The top ten is rounded out by Los Angeles/Orange County, North Carolina, Chicagoland, and Seattle. While there are some minor changes in rankings, the overall landscape of top biopharma clusters remains consistent.

Earlier today, Flagship Pioneering, announced an expansion of its capital base by $3.6 billion. This significant increase aims to support the creation and development of approximately 25 breakthrough companies across human health, sustainability, and artificial intelligence. Specifically, Flagship raised $2.6 billion into Fund VIII, complemented by $1 billion from sector-specific strategic partnerships. This latest round brings Flagship’s total capital raised since 2021 to $6.4 billion. With this infusion, Flagship now manages an aggregate capital pool of $10.9 billion and oversees assets totaling $14 billion. Since the close of Flagship's last fund in 2021, the company and its co-investors have invested an impressive $5.8 billion in equity capital into its current ecosystem of companies. In parallel, other VC and PE firms are making notable moves in the market. In 2024 alone, $8.86 billion of new funds have been closed by 11 investment firms. Furthermore, there is an additional $5.7 billion in Life Science funds currently in the process of finalizing their closures. Decheng Capital J.P. Morgan Foresite Capital Sands Capital Bain Capital ORI Capital Scion Life Sciences ARCH Venture Partners The Column Group Innovation Endeavors Mirae Asset Global Investments TCGX Goldman Sachs

Dive into Philadelphia's most compelling Life Science updates from June 2024. Introducing our inaugural Philadelphia Life Science Newsletter, designed to keep our community informed and engaged with the latest developments. Read about the latest happenings at Carisma Therapeutics, Adaptimmune, Kite Pharma, Cellares, ArriVent Biopharma, SwanBio Therapeutics, Kannalife Sciences, Inc., The Wistar Institute, Iovance Biotherapeutics, Inc., Imvax, Inc., Larimar Therapeutics Inc., Century Therapeutics, Inc, Azzur Group,

Dive into the latest highlights from the world of Pharma and Biomanufacturing in the U.S. for the month of January 2024!

🚀💡🌐 Dive into the Future of Life Science Funding with Project Evolution's Latest Report! 🚀💡🌐 November 2023 brought a dynamic wave of innovation and resilience in global Life Science and Pharma fundraising, clocking in at an impressive $4.07 billion across 92 transactions. While there's a 22% dip from October, the sector's unwavering spirit continues to drive impactful developments. Here's a sneak peek into the transformative highlights: 🔍 U.S. Life Science Hubs: The U.S. takes the lead, commanding a powerful $2.24 billion—55% of the total deal flow. In the last three months, North America secured an impressive $11 billion. The top ten U.S. Life Science clusters, led by San Francisco and Greater Boston, fueled 82% of North America's financings and 62% of global activities. 🧬 Biologics' Financial Symphony: November witnessed Biologics maintaining its financial symphony, securing $1.3 billion and reinforcing its enduring impact in shaping the financial landscape. Over the last three months, Biologics orchestrated a consistent crescendo, amassing an impressive $4.8 billion. 💡 Advanced Therapies on the Rise: The Advanced Therapies sector, a beacon of transformative potential, successfully garnered over $1 billion in November. Of this, a substantial $650 million flowed into Cell therapies, underscoring significant investment in this groundbreaking facet. 📈 Post IPO Equity Reigns Supreme: In the financial arena, Post IPO Equity rounds retained supremacy, securing a substantial $980 million in November through a mix of private placements and public offerings. 🚀 Venture Rounds & Series A Dynamics: Venture rounds and Series A financings, the dynamic engines of financial evolution, played pivotal roles, securing $837 million and $845 million in November, respectively. Link: https://lnkd.in/ecAiG_jF

Explore the newest summary of the recent financial developments in the Life Science and Pharmaceutical sectors within the Greater Philadelphia region. Highlights include: Financings: - Interius BioTherapeutics raises $21.5M in debt financing from Cormorant Asset Management, LP and Fairmount Funds Management LLC -Nicholas Siciliano's Vittoria Biotherapeutics, Inc. brings in $15M in a private financing round from VALLEY FORGE INVESTMENT CORPORATION, Agent Capital, Tellus BioVentures, BioAdvance, NYBC Ventures, and The Leukemia & Lymphoma Society - BioPhy snags $4.5M for AI platform from Metrodora Ventures (led by Chelsea Clinton), - SwanBio Therapeutics Raises $10M from Syncona Limited Partners Funds: - 1315 Capital concludes two successful fundraising rounds, raising over $500M for investments in commercial-stage healthcare companies. - New $28M GO PA Fund means collaboration between all 4 Ben Franklin Technology Partners M&A: - Philadelphia’s Resolian, the CRO formerly known as Alliance, makes a move into China with the Denali acquisition. - Immunome, Inc. and MorphImmune Announce Successful Completion of Merger with $125M PIPE to Develop Novel Targeted Cancer Therapies - Noramco™ Announces the Acquisition of the Cambrex Drug Product Business Unit, previously known as Halo Pharmaceuticals. - Harmony Biosciences completed its acquisition of Zynerba Pharmaceuticals Select Greater Philadelphia Council The Chamber of Commerce for Greater Philadelphia https://lnkd.in/eswrgtMi

💰 Exciting News: Ajinomoto Co., Inc. to Acquire Forge Biologics in $620M All-Cash Deal!💰 Congrats to both parties on the sizable transaction! #Ajinomoto #ForgeBiologics #Biotechnology #GeneTherapy #Innovation

We are excited to share Project Evolution's Life Science Funding Overview for October 2023. During this month, we monitored investments totaling over $5 billion in the Life Science Sector, spanning across 116 deals. While this figure decreased slightly from September's $5.4 billion, we also observed significant activity in the form of over $6.3 billion in Life Science Investment Funds across 10 new funds and $519 million in Government initiatives. Notable Funding Events for October 2023: Life Science Funds: 1. OrbiMed - $4.3Billion - across three funds 2. CBC Group's Healthcare Infrastructure - $875Million 3. 1315 Capital - $500M across two funds 4. Abingworth - $356M 5. Sofinnova Partners - $200M Biologics: 1. Madrigal Pharmaceuticals - $500M - Post IPO Equity 2. Amicus Therapeutics - $400M - Post IPO Debt 3. Aiolos Bio - $245M - Series A 4. Viridian Therapeutics, Inc. - $185M - Post IPO Equity 5. Harpoon Therapeutics - $150M - P.I.P.E Small Molecules: 1.Nuvalent, Inc. - $300M - Post IPO Equity 2. Abivax - $236M - IPO 3. IDEAYA Biosciences - $143.8M - Post IPO Equity 4. AstronauTx - $61M - Series A 5. Nykode Therapeutics - $45M - Undisclosed Advanced Therapies: 1. Rampart Bioscience - $85M - Series A 2. DermBiont, Inc. - $35.2M - Series B 3. MeiraGTx - $30M - Post IPO Equity 4. Interius BioTherapeutics - $21.5M - Debt 5. Gritstone bio - $10M - Grant AI & ML: 1. Iambic Therapeutics - $100M - Series B 2. Engine Biosciences - $27M - Series A 3. Betteromics - $20M - Series A 4. Mana.bio - $19.5M - Seed 5. Deciphex - $10.5M - Debt Check out more fundings in Tools and Instruments, Medical Device, Diagnostics and much more in our latest report. https://lnkd.in/gHc26dtM

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