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Finance Watch: Poseida, Nkarta And Inventiva Are July’s First Biopharma IPOs

 
• By Mandy Jackson

Poseida, Nkarta and Inventiva raised $224m, $252m and $107.7m, respectively. Also, Forbion raised €185m ($208m) of a new €250m fund and Blackstone closed the last $1.2bn of its $4.6bn fund for public and private company deals, and Ascendis led recent follow-ons with a $569.2m offering.

Finance Watch

July’s first three initial public offerings in the US by biopharmaceutical companies brought in close to $600m to fund the development of chimeric antigen receptor T-cell (CAR-T) therapies, engineered natural killer (NK) cells and treatments for non-alcoholic steatohepatitis (NASH).

The largest of the three was Nkarta, Inc.’s 10 July offering of 14 million shares at $18 each to gross $252m, preceded on 9 July by Poseida Therapeutics, Inc.’s $224m from the sale of 14 million shares at $16 each. The French firm Inventiva S.A

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Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

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Finance Watch: Unity Lays Off All Employees As It Evaluates Alternatives

 
• By Mandy Jackson

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Finance Watch: Biohaven Gains Up To $600m In Fresh Capital

 
• By Mandy Jackson

Public Company Edition: Biohaven secured $250m up front from Oberland Capital to support its future US troriluzole launch after pulling its EU filing. Also, Procaps arranged $130m in private equity and Rezolute grossed $96.9m in a rare follow-on offering, among other financings.

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BeiGene To Trade Beach For Chalet In Swiss Redomiciling As BeOne

 
• By Alaric DeArment

The biotech saw a slight quarter-over-quarter decline in sales from the BTK inhibitor Brukinsa, which it attributed to seasonality, while revenues overall missed some analyst estimates.

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Copycats Compound Novo’s Wegovy Growth Problems

 
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The US FDA has ordered compounders of the Danish firm's obesity drug semaglutide to shut up shop later this month, but competition from Eli Lilly is only increasing.