Finance Watch: Evotec, LianBio, IO Biotech Launch IPOs, Bringing US Total To 101

Two More Health Care SPACs Also Went Public

Public Company Edition: Blade will merge with a special purpose acquisition corporation to go public, Bluebird spins out 2seventy with $442m in cash and Compass raises $125m in a move to the Nasdaq.

Two of the largest biopharmaceutical initial public offerings in the US this year – both by companies headquartered outside of the US – were among the latest batch of IPOs. Evotec SE’s $435m offering was the year’s third-largest biopharma IPO and LianBio’s $325m offering closes out the 2021 top 10.

2021's Largest IPOs

Sana Biotechnology Inc. $675.6m
Recursion Pharmaceuticals Inc. $501.8m
Evotec SE $435m
Lyell Immunopharma Inc. $425m
Centessa Pharmaceuticals plc $379.5m
Instil Bio Inc. $368m
Adagio Therapeutics Inc. $355

The Evotec and LianBio offerings on 3 November and 31 October, respectively, also brought the US biopharma IPO total

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