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Finance Watch: SPACs Lose Their Luster As Difficulties Mount

ProKidney Announces, Gemini Closes SPAC Mergers

 
• By Mandy Jackson and Jung Won Shin

Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma. 

Finance Watch Public Company
• Source: Alamy

Merging with a special purpose acquisition corporation (SPAC) can be an attractive alternative to an initial public offering for biopharmaceutical companies looking to go public, but SPACs have begun to lose their luster as stock market conditions make this financial tool more challenging.

“SPACs have been around for a long time and they got really hot during the pandemic, and there was a...

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Chinese Biotech VC/PE Fundings Rise But Still Modest

 
• By Dexter Jie Yan

LTZ Therapeutics and Beijing Sungen Biomedical are among the Chinese biotechs raising new funding, of around $40m each, based on their clinical assets with novel mechanisms of action. While fundings have risen, they remain moderate however.

Finance Watch: Vera Raises Debt, Taysha And Trevi Price Offering After Big Trial Wins

 
• By Mandy Jackson

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Private Company Edition: Six biopharma companies raised venture capital rounds totaling $100m or more in May, matching the number of mega-rounds in April and March. Among other recent financings, Syndeio launched with $90m and SpyGlass raised a $75m series D round.

Angelini Advances Brain Health Ambitions With GRIN Pact

 
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Quick Listen: Scrip’s Five Must-Know Things

 
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Chinese Biotech VC/PE Fundings Rise But Still Modest

 
• By Dexter Jie Yan

LTZ Therapeutics and Beijing Sungen Biomedical are among the Chinese biotechs raising new funding, of around $40m each, based on their clinical assets with novel mechanisms of action. While fundings have risen, they remain moderate however.