After just 13 biopharmaceutical companies went public in the US during the first four months of 2019, setting a pace of about three per month, five drug developers launched initial public offerings on 7 and 8 May – with mixed results.
Finance Watch: Five IPOs Launch In Two Days; Three Remain In Positive Territory
Public Company Edition: Trevi Therapeutics was the first out of the gate on 7 May, but four more biopharma firms went public in the US on 8 May, while just 13 IPOs launched between January and April. Also, new financings include debt for BMS, Bausch and Intercept.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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