![]() Laronde was unveiled by Flagship Pioneering in Cambridge, MA, in early 2021. ![]() ElevateBio has ongoing partnerships to develop and manufacture novel treatments with partners including the institutions Massachusetts General Hospital and Boston Children’s Hospital. Portfolio companies under its wing include AlloVir, which develops T cell therapies against viral infections, the gene editing biotech Life Edit and the cell therapy player HighPass.Ĭentral to ElevateBio’s business model is BaseCamp, a program that provides research and manufacturing services to other companies. The gene and cell therapy developer has consistently bagged outsized funding rounds, topped by a jaw-dropping $525 million Series C round in March 2021.ĮlevateBio specializes in technology that supports the development of advanced therapies, such as gene editing, induced pluripotent stem cells, and protein, viral, and cellular engineering. The holding company ElevateBio was founded in 2017 in Waltham, a city close to Boston. Here are five of Boston’s innovative private biotechs that have raised huge VC rounds in the last two years. The hub shows few signs of slowing down, and there is a host of private biotech companies generating excitement among investors. Moderna would go on to produce one of the first COVID-19 vaccines in 2020 and currently has a market capitalization of more than $60 billion. One of the most successful in recent years was Moderna, a giant messenger RNA (mRNA) specialist that was incubated by the VC firm Flagship Pioneering. Examples include Third Rock Ventures, which raised a massive $1.1 billion fund in June 2022 and RA Capital Management, which bagged an $880 million fund last year.Īdditionally, the Boston region has sprouted many influential public biotech companies. venture capital (VC) firms investing in promising life sciences research. state of Massachusetts (MA) hosts one of the leading biotech hubs in the world.Ĭomposed mainly of the cities Boston and Cambridge, the hub’s prominence in the biotech industry stems in part from its proximity to high-achieving institutions including Harvard Medical School, the Massachusetts Institute of Technology (MIT) and the Massachusetts General Hospital, from which big biotech innovations originate.īoston and Cambridge are also home to world-leading U.S. ![]() Here are five private biotech firms in the Boston area that have drawn the biggest investment rounds in the last two years. Perhaps biotech valuations may not have much further to fall in 2023 after all.Boston is the center of a bustling biotech hub in the U.S., with huge venture capital investments flowing into rising star companies. Until revenue-hungry Amgen’s purchase of Horizon Therapeutics in December, market-rescuing merger and acquisition activity seemed a hopeful investor delusion. Big-ticket venture investors were predictably conservative, putting $600 million into Ultima Genomics to advance its ambitions for human genome sequencing for under $100 and backing companies promising new wrinkles on the drug discovery and development process, such as Treeline Biosciences (difficult drug targets), Nested Therapeutics (beyond precision oncology) and IDRx (precision oncology combinations). That was only around two-thirds of the $52.8 billion raised in 2021 as VC funds recycled their gains from the overheated public markets, but still well ahead of pre-pandemic levels. Venture capital (VC) investment was robust, with around $35 billion raised across the industry. Firms from China raised approximately 35% of the global IPO total. The depressed picture for existing stocks severely limited the opportunities for new ones, with 2022 biotech initial public offerings (IPOs) raising less than one-eighth of the money they did in 2021. By mid-year the NBI had lost around 30% of its value, but it pulled away from the rest of NASDAQ in the second half to end just 10% down over the whole year, in line with the fall in the Dow Jones index of broader industrial stocks. Investor faith in biotech stocks fell further in 2022 after a flat performance for the sector in the previous year.
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