Funding round
Cerevel Growth
Reported as "Growth Equity"
Cerevel, which works in pharmaceutical research and development in Cambridge, raised $440M in a Growth round announced on 27 Oct 2020, led by Perceptive Advisors. 17 firms took part. It is Cerevel's second venture round on record; the one before was a Growth in Oct 2018.
$440M
Amount raised
Not disclosed
Post-money valuation
17
Investors
1 lead
Valuation
What this round says about the price
Cerevel did not disclose a valuation in this round. It came 24 months after Cerevel's Growth. It is 48% of the $915M Cerevel has raised in the venture rounds on record. Cerevel raised again 6 months later: a Growth round of $125M in Apr 2021.
Investors
Who put money in
Perceptive Advisors led the round with 16 other firms.
Lead investor
- backs 47 venture-backed companies new investor
Also in the round
- ARYA Sciences Acquisition Corp II new investor
- Adage Capital Management new investor
- backs 37 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- Federated Hermes Kaufmann Small Cap Fund new investor
- Fidelity Management & Research Company, LLC new investor
- Invus backs 83 venture-backed companies new investor
- backs 11 venture-backed companies new investor
- backs 109 venture-backed companies new investor
- backs 20 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- T. Rowe Price Associates, Inc. new investor
- backs 70 venture-backed companies new investor
- Pfizer Inc. 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
21 Growth rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $55M, and this round was 8.0 times the median. The closest in time, other companies' Growth rounds in Pharmaceutical Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Nimbus Therapeutics Pharmaceutical Products | 14 Oct 2020 | $60M | not disclosed | RA Capital |
| Pharmaceutical Products | 18 Jan 2021 | $14M | not disclosed | ADM Capital Europe and Cibus Fund |
| Pharmaceutical Products | 17 Feb 2021 | $77M | not disclosed | not named |
| Pharmaceutical Products | 19 Feb 2021 | $35M | not disclosed | not named |
| Amoun Pharmaceutical Pharmaceutical Products | 31 Mar 2021 | $740M | not disclosed | not named |
| Pharmaceutical Products | 12 Apr 2021 | $100M | not disclosed | not named |
| RemeGen Pharmaceutical Products | 2 Apr 2020 | $100M | not disclosed | Lilly Asia Ventures and Lake Bleu Capital |
| Pharmaceutical Products | 26 Apr 2021 | $30M | not disclosed | Baird Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Cerevel raise in its Growth round?
Cerevel raised $440M in its Growth round, announced in Oct 2020.
Who led Cerevel's Growth round?
Perceptive Advisors led it, with ARYA Sciences Acquisition Corp II, Adage Capital Management, Ally Bridge Group, Boxer Capital and EcoR1 Capital and 11 more.
What was Cerevel's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Pharmaceutical Products?
21 Growth rounds in Pharmaceutical Products within a year either side disclosed an amount; the median was $55M, and this round was 8.0 times the median.
Did Cerevel raise again after this round?
Yes: a Growth round in Apr 2021 of $125M.