big week for VC fund raising with two European VCs raising a combined €1bn+ for biotech and medtech investments. Other headlines from Matt Lowdon weekly biotech and MedTech deals update include news from antivirals, ADCs, surgical robotics, and more. Congratulations to everyone involved.
➡️ Venture capital firm Sofinnova Partners ropes in €650M for biotech, medtech investments despite ‘volatile’ environment.
➡️ Merck & Co. is spending $9.2 billion for Cidara Therapeutics and its lead influenza antiviral that was dropped by Johnson & Johnson last year.
➡️ European life sciences investor Medicxi has raised 500 million euros to go directly toward innovative biotechs.
➡️ Day One Biopharmaceuticals pens $285M deal for Mersana Therapeutics and its clinical-stage B7-H4 ADC
➡️ TandemAI has announced that it has secured a $22 million Series A extension to further develop its drug discovery platform, which combines advanced AI, physics-based computational methods, and wet lab capabilities.
➡️ Cornerstone Robotics has raised approximately $200 million to accelerate the commercialization of its surgical robotics platform
➡️ Oxford-based techbio startup Scripta Therapeutics has emerged from stealth with a biology-first platform targeting the master regulators of disease, raising $12m.
➡️ Swiss biotech Virometix AG has raised US$15m in fresh funding to accelerate development of its lead pneumococcal vaccine candidate and advance its next-generation synthetic vaccine platform.
➡️ University of Cambridge spinout T Therapeutics has raised a further £24 million, extending its Series A round to £70m. The funding is set to accelerate the development of the company’s next-generation T cell receptor (TCR) therapeutics for cancer and autoimmune diseases.
➡️ Liverpool-based medtech innovator, Enteral Access Technologies Ltd (EAT), has secured £500,000 in a bridging round led by British Design Fund, for its innovative patient safety device.
➡️ AstraZeneca acquires SixPeaks Bio Inc to target muscle‑preserving obesity therapies, boosting its pipeline in a US$30 bn fast-growing weight-loss market.
