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Finance Watch: Joe Jimenez Ventures Into Start-Up World Via Aditum

Also, Three New Biopharma IPOs Bring 2020 Total To 74 In US

 
• By Mandy Jackson

Former Novartis CEO Jimenez co-founded Aditum with former NIBR president Mark Fishman; they raised $133m and are launching Tempero Bio. Also, Atea, Galecto and SQZ went public along with one more health care SPAC, Royalty Pharma upped its Vertex royalty revenues and Mirati’s FOPO raised $926.3m.

Finance Watch

Former Novartis AG CEO Joe Jimenez and former Novartis Institutes for BioMedical Research Inc. (NIBR) founding president Mark Fishman have brought their drug development expertise to the start-up world with a new twist on the hub-and-spoke company creation model embraced by the likes of Roivant Sciences Ltd. and BridgeBio Pharma, Inc.

Jimenez and Fishman co-founded Aditum Bio last year and planned to raise up to $250m, according to a 17 July 2019 Form D disclosure filed with the US Securities and Exchange Commission (SEC), but have raised $133m to date, according to a 23 October SEC filing

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