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Finance Watch: Olema IPO Raises $209m To Advance OPI-1250 For Breast Cancer

Former AstraZeneca CMO Sean Bohen Helms The Phase I Firm

 
• By Mandy Jackson

Olema launched this year’s 75th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.

Finance Watch

Olema Pharmaceuticals, Inc. is not hurting for money after raising $139m in venture capital so far in 2020, but the company went public in the US on 18 November anyway to speed up clinical development of lead drug candidate OPI-1250, a complete estrogen receptor antagonist (CERAN) and selective estrogen receptor degrader (SERD) undergoing a Phase I/II clinical trial in patients with estrogen receptor-positive (ER+)/HER2-negative locally advanced or metastatic breast cancer.

San Francisco-based Olema, also known as Olema Oncology, brought in $209m from the sale of 11 million shares at $19 each and it gave IPO investors a big one-day return on their investment – the company’s stock soared 157

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