Having inked another deal with Nestle Health Science, microbiome specialist Enterome Bioscience is now weighing up potential merger partners that would give the privately held French firm a listing in the US.
Adopting a reverse merger approach, ie, taking over a biotech that has little to offer other than a market listing, could come back into vogue. The number of crossover rounds – big series B or later financings that bring in institutional investors to support a near-term initial public offering – are in sharp decline, as are IPOs themselves and only one biotech has floated on the European markets so far this year, France's Aelis Farma, which listed on Euronext Paris in February
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