Funding round
Arsenal Bio Series B
Arsenal Bio, which works in programmable cell therapy development in South San Francisco, raised $220M in a Series B round announced on 6 Sep 2022. 13 firms took part. It is Arsenal Bio's second venture round on record; the one before was a Series A in Oct 2019.
$220M
Amount raised
Not disclosed
Post-money valuation
13
Investors
no lead named
Valuation
What this round says about the price
Arsenal Bio did not disclose a valuation in this round. It came 35 months after Arsenal Bio's Series A. It is 35% of the $630M Arsenal Bio has raised in the venture rounds on record. Arsenal Bio raised again 24 months later: a Series C round of $325M in Sep 2024.
Investors
Who put money in
13 firms took part; no lead investor was named.
Investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- Bristol-Myers Squibb Company new investor
- backs 13 venture-backed companies new investor
- Emerson Collective backs 76 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- backs 50 venture-backed companies new investor
- Sixth Street backs 34 venture-backed companies new investor
- Parker Institute for Cancer Immunotherapy (PICI) new investor
- backs 11 venture-backed companies new investor
- backs 2 venture-backed companies new investor
- Euclidean Capital new investor
- Waycross Ventures new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
Joined the board: Valentin (Vali) Barsan, M.D. (SoftBank Investment Advisers).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
83 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $69M, and this round was 3.2 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 14 Sep 2022 | $75M | not disclosed | Jeito and UPMC Enterprises |
| Biotechnology | 16 Aug 2022 | $221M | not disclosed | not named |
| Biotechnology | 2 Aug 2022 | $200M | not disclosed | Gaorong Ventures and Yunfeng Capital |
| Biotechnology | 1 Aug 2022 | $120M | not disclosed | Qiming Venture Partners and Quan Capital |
| Biotechnology | 24 Oct 2022 | $71M | not disclosed | Patient Square Capital |
| Biotechnology | 24 Aug 2022 | $24M | not disclosed | Horizons Ventures and OurCrowd |
| Biotechnology | 4 Oct 2022 | $22M | not disclosed | Orlando Health Ventures |
| Biotechnology | 20 Jul 2022 | $75M | not disclosed | Section 32 |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Arsenal Bio raise in its Series B round?
Arsenal Bio raised $220M in its Series B round, announced in Sep 2022.
Which investors took part in Arsenal Bio's Series B round?
SoftBank Vision Fund, Bristol-Myers Squibb Company, Byers Capital, Emerson Collective, Green Sands Equity and Hitachi Ventures and 7 more.
What was Arsenal Bio's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
83 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $69M, and this round was 3.2 times the median.
Did Arsenal Bio raise again after this round?
Yes: a Series C round in Sep 2024 of $325M.