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PRISM BioLab Completes Successful Tokyo IPO On Back Of Multiple Partnerships

Raises $11.5m

 
• By Lisa Takagi

The Japanese drug discovery bioventure builds on multiple alliances and an in-house platform to get away a successful IPO in Tokyo, which it will use to fund further pipeline and technology development.

PRISM BioLab successfully entered Tokyo Stock Exchange Market's Growth section on 2 July 2024.
PRISM BioLab successfully entered Tokyo Stock Exchange Market's Growth section on 2 July 2024. • Source: Shutterstock

PRISM BioLab got away a successful initial public offering on 2 July on the Tokyo Stock Exchange's Growth Market for venture firms, raising close to $12m for the drug discovery-focused Japanese bioventure.

The float followed the close of a JPY1.5bn series C fundraising in January that was backed by existing partner Eli Lilly and Company. PRISM has already signed multiple R&D deals with large pharmaceutical firms including Merck & Co., Inc

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