The summer slowdown finally seems to have hit the US biopharma IPO market; after a hot July with nine offerings, there were just two during the first half of August. Also, Zogenix leads recent follow-ons with a $312m offering; venture capital planted in UK biotechs – Orchard and Blueberry.
Vaccinex Inc. and Aridis Pharmaceuticals Inc. were the first and second drug developers to launch initial public offerings in the US during the first half of August. And since the warm month is lagging a hot July, it appears that a summer cool-off may finally have set in for the biopharmaceutical IPO market.
There were nine biopharma IPOs in July, bringing this year's total to 45 first-time offerings in the US. But the...
Public Company Edition: A breakthrough designation, data and deals prompted big follow-on public offerings in late June and early July, including $402.5m for Cidara, $250.8m for Kymera and $230m for Dyne. Also, Revolution Medicines accessed up to $2bn from Royalty Pharma.
The merger with a fellow Norwegian biotech comes a few months after its lead asset, bemcentinib, bit the dust.
Despite recent political turmoil, outside investor and corporate interest in South Korean biopharma innovation appears robust or even increasing.
Deal Snapshot: The French drugmaker has been shifting its investments away from cancer to focus on immunology and inflammation but it continues to seek out interesting early-stage oncology assets.
