Funding round
eGenesis Series B
eGenesis, which works in xenotransplantation solutions development in Cambridge, raised $100M in a Series B round announced on 7 Nov 2019, led by Fresenius Medical Care Ventures. 7 firms took part, 4 of them already investors. It is eGenesis' second venture round on record; the one before was a Series A in Mar 2017.
$100M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
eGenesis did not disclose a valuation in this round. It came 32 months after eGenesis' Series A. It is 22% of the $454M eGenesis has raised in the venture rounds on record. eGenesis raised again 16 months later: a Series C round of $125M in Mar 2021.
eGenesis' funding rounds
eGenesis has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Fresenius Medical Care Ventures led the round with 6 other firms. ARCH Venture Partners, Biomatics Capital, Alta Partners and Khosla Ventures had backed eGenesis before.
Lead investor
- Fresenius Medical Care Ventures new investor
Also in the round
- Leaps by Bayer new investor
- backs 37 venture-backed companies new investor
- ARCH Venture Partners backs 99 venture-backed companies existing investor
- Biomatics Capital existing investor
- backs 18 venture-backed companies existing investor
- Khosla Ventures backs 396 venture-backed companies existing investor
Joined the board: Al Wiegman (Fresenius Medical Care Ventures), Jürgen Eckhardt (Leaps by Bayer) and Dr. Lucio Iannone (Leaps by Bayer).
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
51 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $40M, and this round was 2.5 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 22 Nov 2019 | $26M | not disclosed | not named |
| Biotechnology | 28 Dec 2019 | $100M | not disclosed | Hyfinity Investments |
| Biotechnology | 16 Oct 2019 | $56M | not disclosed | Atomico |
| Biotechnology | 4 Dec 2019 | $53M | not disclosed | Pfizer Ventures and Bpifrance |
| Biotechnology | 16 Oct 2019 | $50M | not disclosed | Vivo Capital |
| Biotechnology | 2 Oct 2019 | $28M | not disclosed | Shenzhen Capital Group |
| Biotechnology | 5 Dec 2019 | $19M | not disclosed | Mirae Asset Venture Investment and GNTECHVC |
| Biotechnology | 17 Dec 2019 | undisclosed | not disclosed | LH Ventures |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did eGenesis raise in its Series B round?
eGenesis raised $100M in its Series B round, announced in Nov 2019.
Who led eGenesis' Series B round?
Fresenius Medical Care Ventures led it, with Leaps by Bayer, Wellington Partners, ARCH Venture Partners, Biomatics Capital and Alta Partners and 1 more.
What was eGenesis' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
51 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $40M, and this round was 2.5 times the median.
Did eGenesis raise again after this round?
Yes: a Series C round in Mar 2021 of $125M.