Financing

Abivax Over The Moon As Obefazimod Storms Phase III

 
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Stock shoots up over 460% on positive results in two ulcerative colitis trials of the oral first-in-class candidate.

Scrip M&A Podcast: Is Biopharma M&A In A Holding Pattern Or A ‘New Normal’

 
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Scrip discusses the latest M&A activity and trends with CEO Shawn Titcomb of Allele Capital and Cheryl Reicin, a partner focused on international life sciences activity at Mintz.

Finance Watch: Sarepta’s Debt Woes Grow With Elevidys Shipment Pause

 
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Public Company Edition: Sarepta restructured after stopping shipments of its Elevidys for some patients to ease future debt pressures, but now it has stopped shipments to all patients. Also, Madrigal secured up to $500m in new debt, Cogent closed a $230m offering and other financings.

Avalyn Raises $100m Series D To Advance Inhaled Pulmonary Fibrosis Candidates

 
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Looking to improve on the efficacy and safety of Roche’s Esbriet and BI’s Ofev, Avalyn has inhalable formulations of those drugs in Phase IIb and Phase I, respectively.


IPO Update: With Just Two Small Offerings In Q2, What’s Next?

 
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With low valuations for biopharma companies that recently went public and little hope of a near-term turnaround as uncertainty lingers, IPO numbers may stay low for the rest of 2025.

Finance Watch: Karyopharm Cuts Jobs In Cash Crunch; Pacira’s Layoffs Attributed To Efficiency

 
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Restructuring Edition: Karyopharm is reducing its workforce by 20% as it seeks alternatives to extend its cash runway, but Pacira’s production improvements created efficiency that necessitate an 8% layoff in manufacturing. Jasper, Century, Sage, Leap and Prothena also cut jobs.

In Brief: Soleno To Raise $200m To Boost Vykat XR Launch

 
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Soleno Therapeutics will raise about $200m gross proceeds from an offering of 2.35m of its common stock to fund the commercialization of Vykat XR, which became the first drug for Prader-Willi syndrome to gain US approval on March 26.

Investors Back Nuclidium’s Next-Gen Copper-Based Radiopharmaceuticals

 

The Swiss company believes its platform can make radiopharmaceuticals easier to produce and more accessible to patients.


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

 
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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.

Actithera Raises $75m To Enter Competitive FAP-Targeting Radioligand Field

 

While companies such as Eli Lilly and Roche have faced setbacks to their fibroblast activation protein-targeting oncology therapies, Actithera believes its radiopharmaceuticals platform will prove more successful.

Venture Funding Plummets In Q2 As Mega-Rounds Falter

 
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Evaluate’s second quarter data show that VC rounds of $100m or more totaled $2.36bn, down from $5.25bn in Q2 of 2024. Overall, the Q2 total dropped year-over-year to $4.92bn from $7.95bn.

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

 
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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.


BerGenBio Plumps For Oncoinvent From Long List Of 50 Suitors

 
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The merger with a fellow Norwegian biotech comes a few months after its lead asset, bemcentinib, bit the dust.

Global Pharma Interest In Korea Undeterred Despite Political Roller Coaster

 
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Despite recent political turmoil, outside investor and corporate interest in South Korean biopharma innovation appears robust or even increasing.

In Brief: Sanofi Cements Support For Adagene

 
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Deal Snapshot: The French drugmaker has been shifting its investments away from cancer to focus on immunology and inflammation but it continues to seek out interesting early-stage oncology assets.

Stock Watch: Syncona’s Wild Ride Exposes Suspect Strategies

 
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A track record of positive portfolio performance is described as an investment management skill. Taking difficult divestment decisions early, in challenging markets and outperforming benchmarks, are hallmarks of this skill. Syncona and Woodford Patient Capital offer useful case studies.


Vor Is Reborn With New CEO And Ambitious RemeGen Autoimmune Pact

 
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The biotech had been looking at options to survive since May.

Stock Watch: When The Biotech Bandwagon Music Stops

 
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The number of viable biotech companies exploiting a particular technology should be limited by intellectual property but the number of biotech IPOs exploiting that same technology always seems greater than those with freedom to operate.

China Signals Restarting IPOs For Unprofitable Biotechs

 

The China Securities Regulatory Commission has proposed a new “growth tier” for the STAR Market of the Shanghai Stock Exchange, to reinstate the market’s listing standards for unprofitable firms.

BIO Notebook: Woodcock Calls For Doing The Right Thing, Dealmaking Remains Constrained

 

Highlights from Day Four of the BIO International Convention include Woodcock offering practical advice on rare disease trials, the sorry state of dealmaking mid-year, Novartis discussing its approach to partnering, and Generate looking for funding to move into Phase III.