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Dive into the Biopharma Space

Stay up-to-date on major biopharma news, deeper dives into specific companies and biopharma themes, and how it all relates to biopharma partners.

Biopharma Funding Activity from April 29th - May 3rd 2024

The race for funding never stops in biopharma. 48 companies pulled in a massive amount of capital through private deals, post-IPO financing, and grants. Here's a look at who's fueling the next wave of healthcare innovation:

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FIG. 1. Recent Biotech Funding Activity.

– Private Funding –

Reunion Neuroscience

💸  Announced $103M series A financing Co-Led by MPM BioImpact and Novo Holdings.

Enlaza Therapeutics

💸  Raised $100M series A financing, led by the Life Sciences Group of J.P. Morgan Private Capital.

Latus Bio

💸  Secured $54M series A funding from Samsung Life Science.

SynOx Therapeutics

💸  Secured up to $35M debt financing with Hercules Capital to progress development and commercialization of Emactuzumab.


💸  Secured £30M funding from Santander UK. Funds will be partly used to invest in bolt-on pharmaceutical products in complementary therapeutic areas and target future acquisitions.


💸  Raised €15M from private investors to develop therapies for untreated serious diseases.


💸  Closed $15M seed funding led by NFX and other investors.


💸  Secured £12.8M seed financing to enhance its Precision ImmunomicsTM antigen discovery technologies to target five more cancers.

Transcripta Bio

💸  Raised $10M from various investors to advance drug discovery and development. 

Denovo Biopharma

💸  Awarded $11.8M grant from CIRM for the development of DB107 in high-grade glioma including glioblastoma. 

Locate Bio

💸  Raised £9.2M from Mercia Ventures and BGF to fund LDGraft ALIF study.

CIRC Biosciences

💸  Completed $7M debt financing.

Liberate Medical

💸  Received $6.5M grant from the US DoD to further their PREVENT study of VentFree.

Vedanta Biosciences

💸  Awarded $3.9M funding from the CARB-X to advance its VE-707 preclinical development program.

Innovative BioTherapies

💸  Received $3.6M NIH grant study the selective cytopheretic device in adult patients with severe chronic heart failure.

TAXIS Pharmaceuticals

💸  Announces $2.67M NIH grant to advance R&D of combo therapy to combat antibiotic-resistant Pneumonia.


💸  Awarded $2.5M SBIR fast-track grant by the NCATS to develop TIMING™ kits for manufacturing analytics.

Surf Bio

💸  Announced $1.6M grant to advance monoclonal antibody development and reach low- and

middle-income countries. 

InFlectis BioScience

💸  Awarded $650K grant from the NMSS to advance IFB-048 preclinical development in MS.

Altitude Lab

💸  Secured Small Business Administration Growth Fund Accelerator grant to launch Horizon, a commercialization partnering program.


💸  Completed hundreds of millions of yuan (RMB) in series A financing. 

RS BioTherapeutics

💸  Launched crowd-funding campaign StartEngine to fund the development of RSBT-001 in COPD and IPF. 


💸  Awarded funding from the CDMRP/DoD in a strategic collaboration to conduct spinal cord injury research.

Ayana Bio

💸  Received grant from NIH-NCCIH to develop potential therapy for several neurological diseases. 

Traverse Biotech

💸  Received Ph1 SBIR grant from NIH-NIAID to support the development of the oral innate stimulation modality for immunotherapy.

– Post-IPO/Public Funding –


🏦  Completed $400M multi-tranche debt financing from Pharmakon to support NSCLC space launch.


🏦  Launched BridgeBio Oncology Therapeutics with $200M capitalization to develop novel oncology pipeline.

Soleno Therapeutics

🏦  Announced $138M public offering to advance the development of DCCR tablets for the treatment of PWS.

Context Therapeutics

🏦  Announced $100M private placement

Abeona Therapeutics

🏦  Announced $75M offering to fund preparations for resubmission of its BLA and for commercialization of pz-cel.


🏦  Announced SEK 60M rights issuance of units to advance ES2B-C001 and other drug pipeline candidate development.

Arrowhead Pharmaceuticals

🏦  Earned $50M milestone payment from royalty pharma due to the completion of enrollment of the Ph3 OCEAN(a) trial of Olpasiran.

Aileron Therapeutics 

🏦  Announced $40M underwritten offering.

Corvus Pharmaceuticals

🏦  Announced $30.6M direct offering.

Daré Bioscience

🏦  Secured $22M royalty financing to advance Ph3 trial of women’s health product candidate.

Citius Pharmaceuticals

🏦  Closed $15M public offering.


🏦  Awarded $13.1M funding from US DoD to evaluate NE3107 for treatment of long COVID. 

Cyclacel Pharmaceuticals

🏦  Completed $8M private placement.

Predictive Oncology

🏦  Received $6.2M Phase 2B grant from the US DoD.

22nd Century Group

🏦  Redeemed $5.2M in outstanding principal and interest associated with the Omnia subordinated note and outstanding warrants.

TFF Pharmaceuticals

🏦  Completed $4.8M public offering.

Avenue Therapeutics

🏦  Reported $4.4M exercise of warrants.

Aditxt Therapeutics

🏦  Announced $4.2M private placement.

Palisade Bio

🏦  Announced $4M private placement.

Mustang Bio

🏦  Closed $4M public offering.

Lineage Cell Therapeutics

🏦  Received grant from CIRM to support the 2nd Annual Spinal Cord Injury Investor Symposium ("2nd SCIIS").


Article History:

RF, DV, DG (05/07/24)

This article is not investment or legal advice.


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