Biotechnology

Largest private biotech investment in May 2023

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Companies ElevateBio, ReNAgade Therapeutics and Carmot Therapeutics pocketed the largest biotech investments in May 2023. Worldwide, biomanufacturing and oncology players attracted the largest rounds of funding.

Plenty of private biotech fundraising took place in May 2023, with some big spins in the US healthcare sector, as five companies took home $100 million or more.

We’ve rounded up the largest biotech investments that went into private companies around the world in May. The fundraising company has been split into verticals focused on the healthcare and biotechnology industries.

Health investment in May 2023

The top US private biotechnology healthcare investment went to ElevateBio, as the company took home $401 million in a series D financing round. Proceeds from the sale will be used to further advance the company’s cell and gene technology platform, end-to-end capabilities, and therapeutic pipeline.

In Europe, French company TISSIUM pocketed the largest investment, raising $53.8 million in a series D funding round. The company uses biomorphic programmable polymers to reconstruct damaged tissues and restore their natural function.

Chinese company Bio-Engine took the largest investment in the Asia-Pacific region. It raised $42.5 million in series C funding. It develops serum-free media for different cell lines, which are suitable for antibodies, vaccines, and cell and gene therapy.

Another life sciences investment in May 2023

Beyond the health sector, biotech companies are also stepping up large investments to advance technology in subsectors such as food, sustainability and agriculture.

Pluton Biosciences sees its largest investment in this space having completed a $16.5 million Series A funding round. The company will use the funds to find and spread microbes that will help fight climate change.

Revyve led the European biotech ranking outside healthcare in May 2023. The company raised $9 million in private equity, which will support the development and production of sustainable materials from circularly sourced microbial biomass such as brewer’s yeast.

There weren’t many private biotechnology investment deals in the Asia-Pacific region outside of healthcare as of May 2023. The most notable round was Bestzyme Bioengineering, which raised $35.2 million in private equity. The company focuses on manufacturing enzymes to create products such as feed, bioethanol, starch, textiles and food for various industries.

June highlight

June 2023 has gotten off to a promising start in terms of funding for private biotech companies.

The most prominent investment so far has been for US drug discovery and development company Eikon Therapeutics, after announcing on the first day of the month that it had raised $106 million in its first closing in its series C round, along with the acquisition of exclusive, global rights to early-to-stage assets. medium.

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