Financing
Having worked in stealth on its predictive computational R&D models, PsiThera has emerged to develop oral versions of blockbuster drug targets in inflammation and immunology.
FOPO Edition: Capitalizing on positive data, eight drug developers priced follow-on public offerings that brought in $3.2bn, including $650m each for Terns and Structure plus $602m for Kymera.
An investment only becomes appealing when all the ducks are in a row; if just one duck strays, investors can sense trouble and may hesitate before proceeding.
The consolidation of Biocon-BBL is expected to unlock value, deliver operational synergies and provides BBL’s minority shareholders an 'earlier liquidity event'. Investor Viatris also signals accelerated expiration of biosimilars non-compete restrictions.
Public Company Edition: Uncertainty about the US FDA’s direction earlier in the year caused biotech stocks to sag, but recent leadership upheaval has not sunk the XBI. Also, Belite raised $350m, Capricor grossed $150m and Immatics brought in $125m in follow-on offerings.
Private Company Edition: Protego’s series B round comes four years after its $51m series A. Also, Aspen Neuroscience reveals a $115m series C round, Profluent raises $106m to fund AI-enabled protein design and Phrontline brings in $60m in pre-series A+ financing.
The €150m agreement is music to the ears of biotechs battling to find cash.
Public Company Edition: Lilly’s obesity franchise makes it the highest-valued health care company in the US. Also, Genmab accesses $4.5bn to fund its $8bn Merus buy, Moderna locks in a $1.5bn credit facility and Ionis sells $700m worth of notes.
The success of AimedBio’s IPO may indicate investors are returning to the South Korean biopharma sector amid a series of large global out-licensing deals by domestic ventures and the strong performance of some recent biotech debutants on Kosdaq.
Restructuring Edition: Nxera will cut its workforce by 15% in Japan and the UK, among other changes. Also, nearing the end of its cash, Applied Therapeutics cuts 46% of its employees, Korro will cut staffing by 34% as it shifts focus and Metagenomi revealed a 25% workforce reduction.
Still betting on its vaccines portfolio, Moderna is also hoping to deliver on its ambitions in oncology with a Phase III candidate partnered with Merck, while cutting pipeline programs and seeking manufacturing efficiencies.
Private Company Edition: Solve Therapeutics raised $120m in new funding for its Phase I ADC programs and CloakLink linker platform, while Artios will use its $115m series D cash to fund Phase II trials for its drugs targeting the DNA damage response in cancer, plus other recent VC financings.
Continued success in building biotech companies and finding big pharma buyers has convinced investors to put a record sum into Sofinnova’s latest fund.
Zydus looks to fill up its coffers ahead of the next round of acquisitions, likely in the specialty drugs space, while US FDA approvals for generics to Lynparza and Vumerity and its first approvals in China and Canada point to a healthy pipeline
Medicxi V marks the venture capital firm's biggest fund till date, raising its tally to six funds in the last decade, totaling over €2bn.
The investor event will bring deal-hungry big pharma and biotech execs together but input from the FDA’s unsettled leadership will be missing this year.
Byterna, Starna, Vivacta and DeliNova ride surging investor sentiment on in vivo CAR-T assets to secure venture funding.
Public Company Financings: Biomedtracker’s third quarter report shows a big jump from Q2 in follow-on offerings, private placements and debt. Also, Evommune brings the US biopharma IPO tally for 2025 to a dozen and Merck’s Blackstone deal gives it $700m to develop a key ADC asset.
Private Company Edition: Braveheart Bio licensed its selective cardiac myosin inhibitor from Hengrui. Also, Arena BioWorks shuts down after raising $500m in 2024, GHO Capital closed a €2.5bn ($2.9bn) private equity fund and new cash brings Tubulis’s series C to €344m ($401m).
Lower interest rates, M&A activity and a string of positive clinical trial readouts have boosted biopharma investor sentiment in a recovery that appears sustainable, according to William Blair healthcare capital markets managing director Kevin Eisele.