Crossovers pile into new rounds for C4, 4D Molecular

Protein degradation company C4 and gene therapy play 4D Molecular each raised venture rounds that included crossover investors, suggesting each company could soon join an IPO queue that has burgeoned in recent weeks. 4D had sought a listing last fall, when it filed an IPO prospectus with the SEC.

Perceptive Advisors participated in both new rounds. According to BioCentury’s BCIQ database, more than half the biotechs in which Perceptive has invested since 2015 have gone on to price an IPO within a year. Following a relatively fallow period during the early spread of COVID-19, the IPO queue has fattened up lately (see “Daily Chart: IPO Queue”)...