Public Company Edition: Bellus launched the first biopharma IPO in the US since mid-July and Vir Biotechnology, run by former Biogen CEO George Scangos, wants to raise $100m. Also, Turning Point's $202.5m offering and Zafgen's strategic review.
Canada's Bellus Health Inc. launched an initial public offering in the US on 5 September, raising $70m in the first US IPO by a biopharmaceutical company since 17 July.
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The CEO of a South Korean state-run drug R&D support fund urges the renewal of the initiative as it increasingly focuses on new modalities and novel targets.
As investors have begun to ask troubled drug developers to suspend operations and return remaining cash to shareholders, Alis has stepped forward with a new fund aiming to facilitate that.
Restructuring Edition: ESSA and Elevation are reviewing strategic alternatives after trial failures, but each has an investor urging them to liquidate. Also, Third Harmonic and Vincerx are winding down, while Keros and Tempest are assessing options, but Opthea and OPM are cutting jobs.
Private Company Edition: After Q1 venture capital investment slumped relative to 2024 totals due to declines in both smaller financings and mega-rounds, Q2 started off with six $100m-plus financings in the first half of April after there were only three in February and six in all off March.
A brand new R&D center in Massachusetts and a giant manufacturing site for its future obesity drugs are among the key investments in the US.
The CEO of a South Korean state-run drug R&D support fund urges the renewal of the initiative as it increasingly focuses on new modalities and novel targets.
Roivant president Eric Venker was named CEO of Immunovant to guarantee execution of the development plan for IMVT-1402 in six indications, now including Sjögren’s disease and cutaneous lupus erythematosus.
