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Finance Watch: Lyell Raises $425m As Eight Biopharmas Go Public In One Week

In Addition To US IPOs, CARsgen Went Public In Hong Kong

 
• By Mandy Jackson

Public Company Edition: Eight drug developers launched initial public offerings in the US that grossed $1.46bn combined during the week of 14 to 18 June as biotechnology stock values increased. Also, C4 Therapeutics led recent follow-on offerings, raising $180.8m. 

Finance Watch

Initial public offerings by biopharmaceutical companies are back on an above-average track after eight firms went public in the US during the week of 14 to 18 June, raising $1.46bn combined, including $425m alone for Lyell Immunopharma Inc. after it sold 25 million shares at $17 each on 16 June.

Biopharma IPO activity on the Hong Kong Stock Exchange (HKEX) also is ramping up after CARsgen Therapeutics launched its offering on 17 June, bringing in $400.3m. HUTCHMED (China) Limited also has proposed an HKEX offering that could bring in $602.8m. (Also see "HutchMed Set to Lead China Biotech Fundraising In June" - Scrip, 21 June, 2021

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