Finance Watch: Zenas, Bicara, MBX Aim To Raise $100m Or More In Future IPOs

Redalpine’s $200m VC Fund Backs Tech And Biotech

Fifteen biopharma firms have launched IPOs in the US this year, but three more have joined the queue. Also, Galderma sold CHF500m ($590.7m) in bonds to pay down debt, Noetik raised a $40m series A round and ImCheck collected €20.18m ($22.4m) from the French government.

Finance Watch Image — • Source: Shutterstock

The pace of initial public offerings in the US predictably slowed during the summer, although whether the slowdown was caused by financial market conditions or vacation schedules remains to be seen. Even so, three drug developers spent their summers filing paperwork with the US Securities and Exchange Commission (SEC) in support of future IPOs, each of which could be the first $100m-plus first-time offerings since mid-July.

Fifteen biopharma companies have launched US IPOs so far this year, the last two of which – OS Therapies, Inc. on 31 July and Actuate Therapeutics, Inc. on 12 August – raised only $6.4m and $22.4m, respectively. (Also see "Finance Watch: Actuate Launches 15th Biopharma IPO In The US For 2024" - Scrip, 14 August, 2024

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