Versant Ventures related stories
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VC-backed Akero Therapeutics debuts IPOAkero Therapeutics Inc, a biotech firm, has raised about $92 million for its IPO after pricing its 5.75 million shares at $16 per share. The stock began trading June 20, 2019 on the NASDAQ under the ticker symbol "AKRO." J.P. Morgan Securities LLC, Jefferies LLC and Evercore Group L.L.C. are the lead underwriters. Akero's pre-IPO investors included Janus Henderson Investors, Redmile Group, Boxer Capital of Tavistock Group, Cormorant Asset Management, BVF Partners, Rock Springs Capital, LifeSci Venture Partners, Apple Tree Partners, Atlas Venture, venBio Partners and Versant Ventures.
VCCI-backed Northleaf Venture Catalyst Fund II closes at $300 mlnNorthleaf Capital Partners has closed Northleaf Venture Catalyst Fund II (NVCF II), a fund of funds earmarked for investments in Canadian venture capital funds and technology companies, raising $300 million. NVCF II, backed by Ottawa's Venture Capital Catalyst Initiative (VCCI), closed at its hard cap with the help of institutional, high-net-worth and family office investors. They included BDC Capital, Canada Pension Plan Investment Board, Sun Life and TD Bank Group, which joined the fund's initial close in December /canada/2018/12/cppib-joins-first-close-of-northleaf-venture-catalyst-fund-ii/ New money came from Manulife, BMO Capital Partners, clients of BMO Private Bank Asia and others. NVCF II has so far made commitments to Inovia Capital, StandUp Ventures and Versant Ventures.
- Pfizer to buy VC-backed biotech firm Therachon
Pfizer has agreed to acquire Therachon, a biotech company focused on rare diseases, for $340 million upfront with an additional $470 million in contingent payments. Goldman Sachs is serving as financial adviser to Therachon on the deal with Cooley LLP and Homburger AG providing legal advice. And, Arnold & Porter and Lenz & Staehelin are serving as legal advisers to Pfizer. Therachon is backed by Novo Holdings, Cowen Healthcare Investments, Pfizer Ventures, Tekla Capital Management LLC, Versant Ventures, OrbiMed, Bpifrance and Inserm Transfert Initiative.
Canadian VC begins 2019 with heft as top Q1 deals raise $667 mlnAfter nine straight years of growth, Canada’s venture capital market showed no signs of slowing down in early 2019. The top 10 first-quarter VC financings drew $667 million from VC funds. While that’s down 28 percent from the $923 million raised by the top 10 deals a year earlier, it exceeds first-quarter results in other recent years. The estimate is based on PE Hub Canada’s list of the largest rounds announced from January through March, supplemented by preliminary data from Refinitiv. It suggests that despite increasing market uncertainty, trends in early 2019 reflect many of the same factors that drove soaring Canadian VC investment activity last year.
- NEA recruits Jaffe as healthcare venture adviser
New Enterprise Associates Inc has appointed Dr. Ross A. Jaffe as a venture adviser on the firm's healthcare investment team. He is a co-founder of Versant Ventures and a former general partner at Brentwood Venture Capital.
- Nuvaira nets $79 mln in USVP-led round
Minneapolis-based Nuvaira, a developer of medical devices that treat obstructive lung diseases, has raised $79 million in financing. U.S. Venture Partners led the round with participation from other investors that included Endeavour Vision, Qiming Venture Partners, Lightstone Ventures, Advanced Technology Ventures, Morgenthaler Ventures, Split Rock Partners, Versant Ventures, Vertex Venture Holdings and Windham Venture Partners.