BioNTech, a German pharmaceutical startup focused on developing treatments for cancer, has raised a monster $270 million Series A led by Redmile Group, with support from other institutional backers such as Janus Henderson Investors, Invus and Fidelity Management & Research.
The round is only the third Series A deal in Europe to break the $100 million barrier since the start of 2012, per the PitchBook Platform, but it continues a strong trend for healthcare fundings at that stage: Six of Europe's eight largest Series As in the past half-dozen years have occurred in the healthcare industry.
Biggest completed Series As in Europe since 2012
BioNTech's new backing also continues the trend of fewer and fatter deals at the Series A stage. European companies raised
almost $3 billion across 350 Series A rounds during 2017, per PitchBook data, compared to the $2.54 billion that was invested in 389 such rounds in 2016.