Finance Watch: No New IPOs, But Two Firms Take The SPAC Route

Only 20 Companies Have Launched Initial Offerings In 2022

Public Company Edition: NewAmsterdam grossed $328m in its SPAC merger, while Liminatus may raise up to $316m in a new SPAC deal. Also, Intellia and Iveric grossed $300m each in follow-on offerings, bluebird sold a PRV for $102m and MEI ends zandelisib development resulting in layoffs.

Finance Watch Public Company
• Source: Alamy

The pace of IPOs in 2022 is far below the record-breaking number of first-time offerings in 2021, with the last initial public offering in the US by a biopharmaceutical company completed by Acrivon Therapeutics, Inc. in mid-November, but drug developers continue to take an alternative route to the public market in the US by merging with special purpose acquisition corporations.

More from Financing

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

 

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 

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.

Japan T-Reg Venture RegCell Raises New Funds, Relocates To US

 
• By 

Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.

Major Cash Injection Advances Augustine’s HDAC6 Hopes

 
• By 

The Belgian firm banks nearly €77.7m to push its Charcot-Marie-Tooth to proof-of-concept.

More from Business

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

 

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.

Corcept’s Relacorilant Shows Benefit In Ovarian Cancer, Expanding Pipeline Opportunity

 

A Phase III trial testing the cortisol modulator showed a benefit on PFS and OS in patients with platinum-resistant ovarian cancer.

How Big Pharma Is Redefining, Scaling India GCCs Amid Tech Advances

 

Senior executives from AstraZeneca, BMS, Novo Nordisk, Takeda and Regeneron outline how big pharma's global capability centers (GCCs) in India are evolving beyond cost efficiency, focusing on innovation, “agile experimentation” and new technology including GenAI, virtual & augmented reality, with some positioned as COEs. Will Indian multinationals use the GCC approach?