The startup behind a COVID-19 vaccine gears up for an IPO
The pandemic has turned lesser-known biopharmaceutical startups into household names, including vaccine developers Moderna and BioNTech.
Now the company behind the AstraZeneca COVID-19 vaccine, Vaccitech, has raised $125 million in Series B funding in addition to $43 million in convertible notes. M&G Investment Management led the funding of the University of Oxford spinoff, with backing from investors such as Tencent, Gilead Sciences, Monaco Constitutional Reserve Fund, and Future Planet Capital.
The additional cash will be used to finance three infectious disease and immuno-oncology programs that seek to treat chronic hepatitis B virus, human papillomavirus, and prostate cancer. The same technology used to develop treatments for those diseases was applied in the development of the COVID-19 vaccine.
Vaccitech is gearing up for an IPO potentially in New York this year that could value it around $700 million, according to the Wall Street Journal. But it’s not been a straightforward path, with tensions flaring between Oxford and Vaccitech over the deal with AstraZeneca to distribute and produce the doses. Meanwhile, public confidence in the same shot has suffered amid mixed messaging over its efficacy by European leaders.
Something else is also riding on the success of an IPO, at least for Oxford. The storied university’s name pops up in many a venture capital deal. But its reputation as a tech and biotech investor still lags behind that of its U.S. peers in higher education. A successful Vaccitech IPO could be the bellwether Oxford needs to prove its own startup creation and funding process.
FROM STRIPE TO RAMP: Coin Kennedy, previously Stripe’s global head of partnerships, has left the company in favor of a younger fintech. Kennedy is joining corporate card Ramp as its chief business officer. Keep in mind that Stripe has just hit a $95 billion valuation.My colleague Robert Hackett has the full story here.
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- StrideBio, a Research Triangle Park, N.C.-based developer of gene therapies, raised $81.5 million in Series B funding. Northpond Ventures and Novo Holdings led the round and were joined by investors including Pontifax, Octagon Capital, Sarepta Therapeutics, CaaS Capital, and UF Innovate Ventures.
- Overwolf, a Tel Aviv-based platform for creators to build, distribute, and monetize in-game apps, raised $52.5 million in Series C funding. Griffin Gaming Partners and Insight Partners led the round and was joined by investors including Ubisoft, Warner Music Group, Meg Whitman, and Kevin Chou (Gen.G Co-Founder).
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- Glooko, a Palo Alto, Calif.-based provider of remote patient monitoring, raised $30 million in Series D funding. Health Catalyst Capital led the round and was joined by investors including Canaan Partners, Georgian, Novo Nordisk, Insulet, and Mayo Clinic.
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- Mediar Therapeutics, a Cambridge, Mass.-based company seeking treatments for fibrosis, raised $20 million. Investors include Pfizer Ventures and Ono Venture Investment.
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- Noogata, a Tel Aviv-based artificial intelligence data analytics company, raised $12 million in seed funding. Team8 led the round and was joined by investors including Skylake Capital.
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- Harmonize Health, a San Francisco-based remote monitoring and care platform, raised $10 million in Series A funding. Launchpad Digital Health led the round and was joined by investors including Stanford University, Gaingels, Trinity Ventures, and Liquid 2 Ventures.
- SchooLinks, an Austin-based startup with college planning resources, raised an $8.3 million in Series A funding. LiveOak Venture Partners led the round and was joined by investors including SJF Ventures and Juvo Ventures.
- Cymbio, a Tel Aviv-based platform for connecting brands to retailers, raised $7 million in Series A funding. Vertex Ventures led the round and was joined by investors including Yuval Tal (founder of Payoneer), Udian Investments, and Ron Zuckerman.
- Fy!, a London-based home living and lifestyle retail platform, raised £5 million ($7 million). Hoxton Ventures led the round.
- 3DLOOK, a San Mateo, Calif.-based provider of online shopping technology for fit and size recommendations, raised $6.5 million in Series A funding. Almaz Capital led the round.
- Capdesk, a London-based provider of an equity management platform, raised £5 million ($7 million) in Series A extension funding. Fidelity International Strategic Ventures and MiddleGame Ventures led the round.
- Cohere, an Irvine, Calif.-based productivity company, raised $3.1 million in seed funding. Initialized Capital led the round and was joined by investors including Y Combinator, Soma Capital, BoxGroup, Shrug Capital, and Chapter One.
- ZenSports, a West Hollywood, Calif.-based mobile sports betting app, raised $2.4 million in Series A funding. Investors included Gaingels, MicroVentures, Calm Ventures, Twenty Five Ventures, and Allied Ventures Partners.
- Jiffy, a London-based grocery delivery company, raised £2.6 million ($3.6 million) in seed funding. LVL1 Group led the round and was joined by investors including AddVenture, TA Ventures, and Vladimir Kholiaznikov. Read more.
- Meallogix, a San Diego-based maker of software for meal prep company owners, raised $1.7 million in Pre-Series A funding. Tech Coast Angels led the round and was joined by investors including Spark Growth Ventures.
- TA Associates invested $100 million in Appfire, a Burlington, Mass.-based provider of productivity apps.
- Accel-KKR invested in Kimble Applications, a Boston-based provider of cloud-based professional services automation solutions. Financial terms weren't disclosed.
- Clearlake Capital Group invested in RSA Security, a Bedford, Mass.-based provider of cybersecurity, and governance risk and compliance management software solutions. Financial terms weren't disclosed.
- DartPoints, backed by Astra Capital Management, agreed to acquire Immedion, a Greenville, S.C.-based provider of colocation, cloud and managed services. Financial terms weren't disclosed.
- Endicott Growth Equity Partners invested in GovSpend, a Deerfield Beach, Fla.-based provider of government spend analysis solutions to government vendors and agencies. Financial terms weren't disclosed.
- Imaweb, backed by PSG, acquired Stampyt, a French provider of remarketing software and other digital solutions for the second-hand vehicle market. Financial terms weren't disclosed.
- ICV Partners made a majority investment in Cherry Tree Dental, a Wisconsin-based dentistry practice. Financial terms weren't disclosed.
- Arsenal Capital Partners acquired Applied Adhesives, a Minnetonka, Minn.-based manufacturer of adhesive products and thermal product solutions, from Goldner Hawn. Financial terms weren't disclosed.
- THI Investments agreed to acquire Oxford International Education Group, a London-based international education provider. Bowmark Capital exited.
- Snap-on Incorporated agreed to acquire Dealer-FX, a provider of customer experience and process automation software for automotive retailers, from HGGC. Financial terms weren't disclosed.
- Apax agreed to acquire Lutech SpA, a Milan-based IT system integration and digital services business, from One Equity Partners. Financial terms weren't disclosed.
- Peloton Capital Management acquired Glass Lewis, a provider of independent global governance solutions, from Ontario Teachers’ Pension Plan Board and Alberta Investment Management Corporation. Financial terms weren't disclosed.
- Lookout, backed by investors including Andreessen Horowitz, acquired CipherCloud, a San Jose, Calif.-based cloud-native security company, also backed by investors including a16z. Financial terms weren't disclosed.
- A majority of G4S shareholders have accepted a £3.8 billion ($5.28 billion) takeover offer from U.S. rival Allied Universal. U.K.-based G4S is a security services company.
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- Cricut, a South Jordan, Ut.-based maker of design apps and crafting machines, now plans to raise $322 million in an offering of 15.3 million shares (13% insider sold) priced between $20 to $22. Read more.
- Vizio, an Irvine, Calif.-based maker of low-cost electronics, says it now plans to raise $333 million in an offering of 15.1 million shares (50% insider sold) priced between $21 to $23. Foxconn backs the firm. Read more.
- SEMrush Holdings, a Boston-based maker of software for digital marketing, says it plans to raise $252 million in an offering of 16.8 million shares (11% insider sold) priced between $14 to $16. Greycroft backs the firm. Read more.
- EIP Acquisition I, a SPAC formed by Energy Impact Partners focused on the energy space, filed to raise $300 million.
- Reverence Acquisition, a SPAC by Reverence Capital Partners targeting fintech and financial services, filed to raise $300 million.
- Waldencast Acquisition, a SPAC formed by Waldencast Ventures and a former CFO of Anheuser-Busch InBev, raised $300 million.
- Triton Partners, a London-based private equity firm, raised €815 million for its Smaller Mid-Cap Fund II.
- Revelation Partners, a San Francisco-based secondary investor in healthcare, closed Revelation Healthcare Fund III with $350 million.
- 500 Startups, an early-stage venture capital firm, promoted Clayton Bryan to partner.
- M12, Microsoft’s venture arm, added Irad Dor as a partner from Eight Roads Ventures.