🧬 Genomics Index Decreases 31%. $480M+ VC Funding.

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📈 Today's Global Economic Update: Japan's trade deficit narrowed to JPY 1,221B in May 2024. Exports increased 13.5% YOY to JPY 8,276B, while imports increased 9.5% to JPY 9,497B, driven by strong sales to the US and China and increased mineral fuel purchases.

🛡️ Deal of the Day: Huntress, a Maryland-based cybersecurity company, raised a $150M Series D to enhance security research.

What's New?

🧬 Genomics. Genomics index decreases 31%
💰 Funding. Cybersecurity, biopharmaceutical, maternal care + more
💼 M&A. Healthcare and digital marketing
📅 Economics. BoE interest rate, balance of trade, inflation + more

🧬 Genomics Index Decreases 31%

HolonIQ's Genomics index has seen a 31% decrease year-on-year. The performance of stocks, including Biomarin Pharmaceutical ($16B Mcap), which has declined 11%, and Illumina ($17B Mcap), down 46%, has pushed the index down. Despite increases in total revenues and net income, higher research and development costs, along with administrative expenses, offset these gains. Biomarin Pharmaceutical had to lay off 170 workers this quarter and discontinue specific research and development programs. Illumina is facing a steep loss from its forced spin-off of Grail after The US Federal Trade Commission and the European Commission ordered Illumina to unwind its acquisition.

Despite these challenges, advancements in genome understanding, mandated newborn genetic screening, and AI-driven gene modification amongst other developments, create a bright outlook for the sector. The positive returns of certain stocks such as Agilent Technologies ($39B MCap) which rose 14% and Natera ($13B MCap) which increased 107% have set the tone for a projected increase in revenue for firms in the industry.

💰 Funding

🛡️ Huntress, a Maryland-based cybersecurity company, raised a $150M Series D from Kleiner Perkins and Meritech Capital to enhance security research.

💉 iOnctura, a Dutch biopharmaceutical company, raised a $85.9M Series B from Syncona to accelerate the development of its treatments.

💊 Iambic Therapeutics, a California-based biotechnology company, raised a $50M Series B from Mubadala Capital and Exor to advance its clinical and pre-clinical programs.

👩‍🔬 Pomelo Care, a New York-based virtual maternal care company, raised a $46M Series B to help improve maternal health rates.

🔒 PQSheild, a UK-based cybersecurity company, raised a $37M Series B from Addition to meet market demand in the tech supply chain for its software and hardware IP.

🤖 Decagon, a California-based generative AI company, raised $35M from a16z and Accel to continue developing its product and expanding its team.

💼 M&A

🏥 Calibre Scientific, a California-based healthcare company, acquired DCS Innovative diagnostic systems, a German pharmaceutical firm.

🖥️ Tomis, a Montana-based customer service and digital marketing company acquired Yonder, a New Zealand-based tech company.

📅 Economic Calendar

BoE Interest Rate, UK Retail Sales, Balance of Trade, Inflation, + More

Thursday, June 20th 2024

🇬🇧 UK BoE Interest Rate Decision
🇺🇸 US Building Permits (Preliminary), May
🇯🇵 Japan Inflation Data, May

Friday, June 21st 2024

🇬🇧 UK Retail Sales Data, May
🇩🇪 Germany HCOB Manufacturing PMI (Flash), June

Monday, June 24th 2024

🇩🇪 Germany Ifo Business Climate, June

Tuesday, June 25th 2024

🇦🇺 Australia Westpac Consumer Confidence Change, June
🇨🇦 Canada Inflation Rate, May

Wednesday, June 26th 2024

🇩🇪 Germany GfK Consumer Confidence, July 

Thursday, June 27th 2024

🇺🇸 US Durable Goods Orders, May
🇺🇸 US GDP Growth Rate, Q1

Friday, June 21st 2024

🇫🇷 France Inflation Rate (Preliminary), June
🇮🇹 Italy Inflation Rate (Preliminary), June
🇺🇸 US Core PCE Price Index, May
🇺🇸 US Personal Income & Spending, May

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