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Finance Watch: Summer Slowdown Nears Its End With Strategic Shifts And IPO Hopes

 
• By Mandy Jackson

Merrimack's wind-down continues with an activist challenge, but investors approved the Vical/Brickell Biotech reverse merger. Also, the past month's IPO slump may reverse course and HiFiBiO's $67m Series C leads recent financings.

Finance Watch

Strategic shifts by Merrimack Pharmaceuticals Inc. and Vical Inc. took different turns during the last week of August, which was predictably quiet ahead of the long Labor Day weekend in the US in terms of new biopharmaceutical company financings.

Publicly-traded infectious disease specialist Vical announced on 30 August that the company's reverse merger with private dermatology drug developer

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More from Financing

Finance Watch: CSL Restructuring Brings 15% Workforce Reduction, Vaccines Group Spinout

 
• By Mandy Jackson

Restructuring Edition: CSL Group will spin out CSL Seqirus as a standalone vaccines business as the parent company slims down. Some struggling companies are turning to investing in cryptocurrencies to create shareholder value.

Finance Watch: Did Mid-Summer Usher In A Mega-Round Comeback?

 
• By Mandy Jackson

Private Company Edition: Hatteras Venture Partners now has more than $900m under management. Also, in recent $100m-plus VC rounds, Strand Therapeutics raised a $153m series A, ARTBIO revealed a $132m series B and Minghui Pharmaceutical secured a $131m pre-IPO round.

Sarepta Sells Arrowhead Shares To Raise Cash, Pay Arrowhead

 
• By Mandy Jackson

Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.

Finance Watch: OrbiMed’s New $1.86bn Fund Offers Financial Alternatives In Tough Market

 
• By Mandy Jackson

Public Company Edition: OrbiMed partners Carter Neild and Matthew Rizzo spoke with Scrip about the firm’s fifth royalty and credit fund. Also, Ligand sold $400m worth of notes, BridgeBio’s oncology spinout went public via SPAC merger and raised $261m and Assembly raised $175m.

More from Business

Boehringer Expands Eyecare Horizons With Palatin Collaboration

 
• By Andrew McConaghie

The German company already had four eye disease candidates in Phase II development and sees promise in Palatin’s novel melanocortin receptor modulators.

Egetis Eyes Swift US Submission For Emcitate

 
• By Kevin Grogan

The Sweden-based firm is set for talks with the FDA on the regulatory path for its MCT8 deficiency candidate.

Stock Watch: Pfizer Relights Q2 Earnings Season’s Fire

 
• By Andy Smith

Pfizer showed how to come out on top with investors during earnings season. Post strong sales growth – and avoid mentioning tariffs, most favored nation pricing or Medicare modernization impacts.