DJIA39773.78 13.70
S&P 5005252.02 3.53
NASDAQ16391.34 -8.18
Russell 20002129.10 12.90
German DAX18497.90 22.84
FTSE 1007966.33 34.35
CAC 408210.74 5.93
EuroStoxx 505087.25 4.50
Nikkei 22540168.07 -594.66
Hang Seng16541.42 148.58
Shanghai Comp3010.66 17.52
KOSPI2745.82 -9.29
Bloomberg Comm IDX98.87 0.56
WTI Crude-fut86.45 0.77
Brent Crude-fut81.35 -0.26
Natural Gas1.73 0.01
Gasoline-fut2.70 0.03
Gold-fut2234.10 21.90
Silver-fut24.90 0.21
Platinum-fut921.60 11.70
Palladium-fut1025.00 29.50
Copper-fut400.60 -0.40
Aluminum-spot1815.00 0.00
Coffee-fut189.15 -1.50
Soybeans-fut1182.50 -10.00
Wheat-fut551.25 3.75
Bitcoin70839.00 1773.00
Ethereum USD3565.21 89.60
Litecoin94.20 -0.93
Dogecoin0.22 0.02
EUR/USD1.0818 -0.0011
USD/JPY151.32 -0.01
GBP/USD1.2626 0.0007
USD/CHF0.9058 -0.0002
USD IDX104.43 0.06
US 10-Yr TR4.185 -0.011
GER 10-Yr TR2.288 -0.004
UK 10-Yr TR3.924 -0.006
JAP 10-Yr TR0.712 -0.01
Fed Funds5.5 0
SOFR5.33 0.01

Connect Money In Your Inbox.

Sign up to get the most important news on the business of financial services delivered daily.

Sub Markets

Property Sectors

Topics

Alternative Assets  + VC  | 
ElevateBio Takes Top Spot in Biotech Funding with $401M Raise

ElevateBio Takes Top Spot in Biotech Funding with $401M Raise

Cell and gene therapy incubator ElevateBio has closed a $401 million Series D funding round led by Matrix Capital Management’s new vehicle AyurMaya Capital Management Fund. The round was also joined by Danish big pharma Novo Nordisk, SoftBank Vision Fund 2 and Samsara BioCapital as part of ElevateBio’s investor syndicate.

The financing is the largest private biotech raise so far this year, displacing ReNAgade Therapeutics from the top spot, which announced the raise of a $300 million Series A round on Tuesday. This latest haul for ElevateBio comes two years after the company raised $525 million in a series C round.

The company will now invest its newly acquired funds in expanding its production and technological platforms. ElevateBio boasts a number of research and development platforms, including induced pluripotent stem cells, RNA, cell, protein, and vector engineering technology, as well as Life Edit, a gene editing platform.

Led by David Hallal, Chairman and CEO, Waltham, MA-based ElevateBio has added more than 15 new biopharma partners across its ecosystem over the past year, including collaborations with Moderna and Novo Nordisk.

In connection with the funding round, Khalil Barrage, managing director of Invus Group, was appointed to ElevateBio’s board.

Connect

Inside The Story

ElevateBio

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

New call-to-action
New call-to-action