Venture Report: Canadian VC Amplitude closes new fund; CinRx’s series C

In a week when industry attention turned to the American Society of Clinical Oncology (ASCO) meeting and a series of billion-dollar acquisitions, news flow was light around biotech venture capital. Still, Canadian VC Amplitude Ventures closed its second fund, and Cincinnati-based CinRx raised $73 million to support companies within its hub-and-spoke model.

Amplitude Ventures said it has already made four investments from its new C$263 million ($192 million) fund, which is nearly a third larger than its first C$200 million, 2021-vintage first fund. From offices in Montreal, Toronto and Vancouver, the firm intends to invest the fund in precision medicine companies with an emphasis on AI-guided therapeutics developers...