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Finance Watch: Will Biotech Stock Rebound Keep IPOs Coming?

Rain Therapeutics, Impel NeuroPharma Go Public As Valuations Rise

 
• By Mandy Jackson

Public Company Edition: The Nasdaq Biotechnology Index appears to be in recovery from an earlier slide, but still has ground to make up. Also, Jazz sold $1.5bn worth of notes and Zai Lab closed an $823.9m follow-on offering.

Finance Watch

Two drug developers went public – Rain Therapeutics Inc. and Impel NeuroPharma, Inc. – late on 22 April, closing out a week that ended with the Nasdaq Biotechnology Index (NBI) in positive territory. A rising NBI was not so remarkable in 2020 when a record number of biopharmaceutical companies launched initial public offerings, but in 2021 the index has fallen substantially from its February peak.

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Finance Watch: As Stocks Tumble, Offerings Slow, Financial Alternatives Rise

 
• By Mandy Jackson

Public Company Edition: Stock valuations are falling due to political, economic and regulatory uncertainty, resulting in fewer large public offerings, more alternative financings and cost cuts. Carisma, Tenaya, BioAtla, Arbutus, Nkarta, Alector and Adaptimmune announced layoffs.

Finance Watch: European And Japanese Biotechs See VC Investor Interest In March

 
• By Mandy Jackson

Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.

Finance Watch: Cargo Restructuring Not The News The IPO Market Needs

 
• By Mandy Jackson

Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.

Finance Watch: Venture Capital Mega-Rounds Attempt A Rebound In March

 
• By Mandy Jackson

Private Company Edition: There have been five $100m-plus VC rounds so far this month, up from three in all of February. Flagship unveiled Lila Sciences with $200m, while Curevo and Insilico raised $110m in series B and E rounds, respectively. Also, Arbor Biotech garnered $73.9m.

More from Financing

AIRNA To Take RNA Editing Into The Clinic With $155m Series B Round

 
• By Mandy Jackson

CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.

Isomorphic Adds To Growing AI War Chest With First External Funding Round

 
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.

Finance Watch: European And Japanese Biotechs See VC Investor Interest In March

 
• By Mandy Jackson

Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.