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Aerovance spins out of Bayer, raises $32mm

Executive Summary

Bayer AG has spun off a new US biopharmaceutical company called Aerovance (therapeutics for inflammatory, autoimmune, and respiratory diseases), which raised $32mm with its first institutional venture financing. Apax Partners led the round and was joined by Lehman Brothers, NGN Capital, and Burrill & Co.
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Spin-Off
    • Private Placement

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