The difficult investment environment has made it harder to build newcos, but panelists at the Galien Forum talked about how that might help limit some of the me-too companies that proliferate when financing is easier.

Private Company Edition: Quarter-over-quarter increases in venture capital have been bolstered by fewer but larger rounds, like the recent $245m series A for Aiolos. Also, OrbiMed raised $4.3bn across three new VC funds, Rampart completed an $85m series A and Atom Bioscience raised an $83m series D. 

VC data from Evaluate show quarter-over-quarter drops in the number of biopharma companies raising private cash and in the amount of money raised as investors ride out public market troubles.

Private Company Edition: ReCode’s series B venture capital round grew for a third time, now totaling $260m for precision genetic medicines. Also, DalCor closed an $80m series D, manufacturer Nephron amassed $350m, Hyku launched with a $56m seed financing and Magnet emerged with $50m.