DNA manufacturing was a hot topic in biotech investments in October, with immuno-oncology and insect protein also drawing big investor excitement.
After the huge biotech investment rounds that took place in September, October was a quieter month for private European and Israeli life sciences firms. Collectively, they raised €555.6M in 37 deals. This was less than half of the €1.5B proceeds raised in September.
The bulk of the cash went to companies developing cancer treatments as well as technology enhancing drug discovery and DNA manufacturing. In the industrial biotech sector, investments focused on companies developing sustainable methods of food production such as cultured meat, agriculture, and farming insects.
In contrast to the meteoric IPOs from Excientia and Oxford Nanopore Technologies in September, there was only one modest IPO in October. The French firm Acticor Biotech raised €15.5M when listing on Euronext Growth Paris to fund the development of its antibody drug for stroke.
DNA Script took the crown for the biggest private biotech investment round in October with a €142M Series C round.