Funding round
Arsenal Bio Series C
Arsenal Bio, which works in programmable cell therapy development in South San Francisco, raised $325M in a Series C round announced on 4 Sep 2024, led by ARCH Venture Partners and NVentures. 14 firms took part, 1 of them already investors. It is Arsenal Bio's third venture round on record; the one before was a Series B in Sep 2022.
$325M
Amount raised
Not disclosed
Post-money valuation
14
Investors
2 leads
Valuation
What this round says about the price
Arsenal Bio did not disclose a valuation in this round. It came 24 months after Arsenal Bio's Series B. It is 52% of the $630M Arsenal Bio has raised in the venture rounds on record. No later venture round is on record for Arsenal Bio.
Investors
Who put money in
ARCH Venture Partners and NVentures led the round with 12 other firms. Bristol-Myers Squibb had backed Arsenal Bio before.
Lead investors
- ARCH Venture Partners backs 99 venture-backed companies new investor
- NVentures new investor
Also in the round
- Parker Institute for Cancer Immunotherapy new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Bristol-Myers Squibb existing investor
- Milky Way Investments Group new investor
- Regeneron Ventures new investor
- backs 4 venture-backed companies new investor
- T. Rowe Price Associates, Inc. new investor
- backs 20 venture-backed companies new investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- backs 50 venture-backed companies new investor
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
34 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $59M, and this round was 5.6 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 17 Sep 2024 | $40M | not disclosed | Deerfield |
| Biotechnology | 17 Sep 2024 | $11M | not disclosed | not named |
| Biotechnology | 5 Aug 2024 | $80M | not disclosed | Samsara BioCapital and The Column Group |
| Pathos Biotechnology | 29 Oct 2024 | $62M | $600M | New Enterprise Associates |
| Biotechnology | 1 Aug 2024 | $47M | not disclosed | R42 Group and Atomico |
| Enveda Biotechnology | 21 Nov 2024 | $130M | not disclosed | Kinnevik and FPV Ventures |
| Biotechnology | 16 Jul 2024 | $100M | not disclosed | Novo Holdings |
| Biotechnology | 26 Nov 2024 | $53M | not disclosed | Frazier Life Sciences |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Arsenal Bio raise in its Series C round?
Arsenal Bio raised $325M in its Series C round, announced in Sep 2024.
Who led Arsenal Bio's Series C round?
ARCH Venture Partners and NVentures led it, with Parker Institute for Cancer Immunotherapy, Kleiner Perkins, Bristol-Myers Squibb, Milky Way Investments Group and Regeneron Ventures and 7 more.
What was Arsenal Bio's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
34 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $59M, and this round was 5.6 times the median.