California Biotech Insights

Recent Funding: MapLight Therapeutics (SF) Secures $372.5M Series D to Advance CNS Drug Trials MapLight secured one of 2025’s largest biotech raises to advance ML-007C-MA, its Phase 2 oral therapy for schizophrenia and Alzheimer’s psychosis, amid heightened industry interest in M1/M4-targeting drugs. The round was co-led by Forbion and Goldman Sachs, with backing from Sanofi, […]

Recent Funding: Omega Funds (Boston & Geneva) Closes $647M Life Sciences Fund with Focus on Therapeutics Despite a broader downturn in VC funding, Omega raised $647M for its 8th fund, targeting U.S. and EU biotechs developing treatments for severe diseases. The seasoned biotech VC matched its 2021 fund size and plans to invest in 20–25 […]

$98B in H1 deal value and $10.1B in licensing upfronts signal strong demand for later-stage assets, despite weak venture funding and IPO activity. VC investment fell 33% from Q1 to Q2, IPOs nearly halted, and PIPE/follow-on activity dropped significantly—creating a tough environment for early-stage startups.Big Pharma is prioritizing Phase 2 and 3 programs. Human clinical data is driving partnerships and M&A — not platform tech or preclinical work. 38% of large in-licensing deals this year involved Chinese biopharmas. This shift may create more global competition or pressure U.S. biotechs to partner early. Series A dropped to $1.2B in Q2 — the lowest since the COVID boom. This signals tightening capital access even for solid early-stage companies. Only 1 IPO made it through in Q2, and follow-ons are weak. Biotechs can’t rely on public markets for cash right now, raising the stakes for private funding or partnerships. Executives are aware that delayed exits, slow acquirers, and market volatility mean staying lean and focused is critical — or risk becoming a distressed M&A target.

Recent Funding: AN Venture Partners (SF) Closes $200M Fund to Back Japanese Innovation ANV, with ties to ARCH Venture Partners, raised $200M to help bring Japanese scientific breakthroughs to global biotech markets — especially via U.S.-based startups. The firm has already backed seven companies, including gene writing and RNAi startups, and aims to fund ~15 […]

Recent Funding: Revolution Medicines (SF) Secures Up to $2B to Advance RAS Inhibitor Pipeline Revolution signed a $2B funding deal with Royalty Pharma to support late-stage development of its lead RAS inhibitor, daraxonrasib. The flexible structure includes a $1.25B royalty deal and $750M in milestone-based debt, preserving Revolution’s control and upside. Cidara Therapeutics (SD) Joins […]