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Finance Watch: Investors Remain Receptive To Biopharma, Health Care SPAC IPOs

Gracell, Cullinan Launch Year’s First Offerings; Seven More Join Queue

 
• By Mandy Jackson and Anju Ghangurde

Public Company Edition: 2020 started with two $200m-plus initial public offerings plus five health care-focused special purpose acquisition corporations IPOs. Also, a Pfizer initiative backs three public companies, Fate’s $432m offering led recent FOPOs and Biocon Biologics receives more investment. 

Finance Watch

Investor interest in initial public offerings in the US by biopharmaceutical companies apparently has not abated in the new year, with two oncology-focused firms – Cullinan Management Inc. and Gracell Biotechnologies Inc. – bringing in more than $200m each in recent upsized IPOs.

In addition, five health care-focused special purpose acquisition corporations (SPACs) have gone public already in 2021; SPACs exist to acquire or merge with private companies that become public through the transactions

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