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Firefly Bio Debuts With $94 Million Series A Financing

Feb 15, 2024•over 1 year ago

Amount Raised

$94 Million

Round Type

series a

San FranciscoBiotechnologyHealth Care

Investors

Eli Lilly & CompanyDecheng CapitalMpm Bio ImpactVersant Ventures

Description

Firefly Bio emerged from stealth mode with a $94 million Series A financing co-led by founding investor Versant Ventures and by MPM BioImpact alongside Decheng Capital and with participation from Eli Lilly & Company.

Company Information

Company

Firefly Bio

Location

San Francisco, California, United States

About

Firefly Bio is a biotech company focused on developing a novel platform to treat cancer using degrader antibody conjugates (DACs). The company aims to precisely drug a range of intracellular biological targets that were previously hampered by therapeutic index issues when delivered systemically.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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