Baillie Gifford leads $130M financing of Denali Therapeutics
August 29, 2016
Denali Therapeutics is a biotech focused on discovering and developing therapies for patients with neurodegenerative disease, including Alzheimer’s, Parkinson’s and ALS. The company has announced a $130 million Series B financing it secured in June, the proceeds of which will be used to fund its therapeutic pipeline and proprietary blood-brain-barrier delivery technology platform.
While the size of the round is definitely notable, it’s perhaps less so when considering that Denali launched in May 2015 with an eye-popping $217 million investment that valued the company at $270.3 million. All of the company's founding investors participated in this Series B, along with a new one of particular note.
That would be lead investor Baillie Gifford, a name that may ring a bell because the firm was one of the more active “tourist” investors that proliferated during last year's unicorn craze. The industry has calmed down a bit, to the relief of many, but seeing Baillie Gifford lead a huge round like this is intriguing. The firm completed 13 venture investments between June 2015 and this February; it has only executed three deals in the six months since.
PitchBook Platform subscribers can dig into the data behind Baillie Gifford’s investment history right here.