1. Scrip
  2. >>Business
  3. >>Financing

Finance Watch: BioAge Raises $198m In 20th Biopharma IPO Of 2024

Cardiovascular Restructuring Under Way At J&J

 
• By Mandy Jackson

Public Company Edition: BioAge will fund a Phase II trial of its muscle atrophy prevention drug in combination with an obesity drug with its initial public offering proceeds. Also, Ascendis and Wave raised $281.3m and $200m, respectively, after positive clinical trial readouts.

Finance Watch Public Company
• Source: Alamy

BioAge Labs, Inc. switched the development focus for its lead drug candidate, the small molecule apelin receptor (APJ) agonist azelaprag, from age-related muscle loss to prevention of muscle loss in individuals taking GLP-1 agonists for weight loss, and the strategic shift propelled the firm’s significant initial public offering – the 20th biopharmaceutical IPO in the US in 2024.

Richmond, CA-based BioAge originally proposed the sale of 7.5 million shares at $17 to $19 each on 18 September and upped the proposal to 10.5 million shares in the same price range on 25 September, before further boosting the number of offered shares and pricing the IPO later that day in the middle of the proposed range

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

 
• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

More from Business

Merck KGaA Braces For Volatility But Does Not Expect Europe To Budge On Pricing

 
• By Andrew McConaghie

Shares are hit as German conglomerate lowers revenue forecast.

Leo Roars To A Profit In Q1 As Adbry Grows In US

 
• By Kevin Grogan

The Danish firm's atopic dermatitis drug is holding its own despite strong competition from Sanofi/Regeneron’s Dupixent.

Cipla Leadership’s Early Take On Trump’s Pricing EO And Pipeline Progress

 
• By Anju Ghangurde

Cipla's CEO underlines that US generic prices are already “very significantly comparable” with the rest of the world and expects President Donald Trump's executive order on drug pricing to primarily impact branded pharmaceuticals. The company also shared updates on its US pipeline.