Biotech Startup Synthekine Secures $100M Series C Led by VC The Column Group
Biotech Startup Synthekine, which offers cell protein therapeutics, has completed its $100mn Series C funding round led by venture capital firm The Column Group, along with new and existing investors
The Column Group invested in Synthekine’s $82 million series A round, along with biotech-focused firms Canaan Partners and Samsara BioCapital in 2020, as well as its $107.5 million series B in 2021.
The Menlo Park, CA-based company uses immunological insights to guide targeted protein engineering to generate transformative medicines for cancer and autoimmune disorders. The proceeds will be used to further enhance these goals.
Venture-capital investment in the biotechnology sector proved to be resilient last year despite the volatility in the stock market and the slower pace of initial public offerings.
But the outlook for 2023 is more cautious as late-stage deals plummeted in the fourth quarter of 2022, moving toward a four year low, according to PitchBook data. And the earliest stage companies, those seeking seed funding or angel investment, also saw the flow of deals drop in the same period.