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Finance Watch: Public Companies Pursue All Options To Fund R&D, Launches

Immunome, Morphimmune Merge, Close $125m PIPE

 
• By Mandy Jackson

Public Company Edition: Follow-on offerings may not be the favored path to funding development programs or product launches after major milestones in the current environment. Amicus secured $430m in a deal with Blackstone, while OPKO’s Modex garnered up to $168m from BARDA.

Finance Watch Public Company
• Source: Alamy

The usual pattern of reporting positive clinical trial results or winning US Food and Drug Administration approval then launching a large follow-on public offering (FOPO) has become less common under current financial market conditions, but biopharmaceutical companies are finding plenty of alternative ways to fund their next crucial clinical trials or product launches.

For instance, Amicus Therapeutics, Inc. won FDA approval on 28 September for Pombiliti (cipaglucosidase alfa-atga) and Opfolda (miglustat) for...

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Finance Watch: Two New Venture Capital Funds Provide $600m For Biopharma

 
• By Mandy Jackson

Private Company Edition: Catalio raised more than $400m for its fourth health care-focused VC fund, while AN Venture Partners raised $200m for Japan and beyond. In VC financings, among a dearth of mega rounds, Neuron23’s $96.5m series D is the largest round in recent weeks.

Finance Watch: A Mini-Surge In Follow-On Offerings Follows Positive Updates

 
• By Mandy Jackson

Public Company Edition: A breakthrough designation, data and deals prompted big follow-on public offerings in late June and early July, including $402.5m for Cidara, $250.8m for Kymera and $230m for Dyne. Also, Revolution Medicines accessed up to $2bn from Royalty Pharma.

Finance Watch: Scorpion Spinout Antares Launches With $177m For Precision Medicines

 
• By Mandy Jackson

Private Company Edition: Antares’ lead asset will enter the clinic in 2026 after Lilly committed up to $2.5bn for Scorpion’s Phase I/II PI3Kα inhibitor STX-478. Also, Amplify raised $200m for its first biotech VC fund and Mosanna raised an $80m series A round, among other financings.

Finance Watch: Insmed Cashes In On Positive Data With $750m Offering

 
• By Mandy Jackson

Public Company Edition: Insmed raised $750m after reporting positive Phase IIb data in PAH, Cogent accessed up to $400m in new debt, Kelun-Biotech netted $250m in a placement of shares and ADC revealed a $100m private placement. In strategic updates, Recursion cut 20% of its jobs.

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