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Finance Watch: Metsera, Maze Go Public, Bringing 2025 US IPO Total To Three

Offerings Grossed $275m And $140m, Respectively

 
• By Mandy Jackson

Public Company Edition: A three-per-month IPO pace would top the 25 first-time biopharma offerings in 2024. Also, Akero grossed $402.5m and 89bio raised $250m in follow-on offerings that cashed in on Akero’s Phase IIb MASH readout. Immunovant raised $450m in a private placement.

Finance Watch Public Company
• Source: Alamy

If biopharma companies keep up the pace of three initial public offerings in the US per month seen in January, the number of IPOs in 2025 will exceed the 25 first-time offerings that drug developers achieved in 2024. Metsera and Maze Therapeutics brought this year’s IPO total to three when they priced their offerings on 30 January, one week after Ascentage Pharma launched the first IPO of 2025.

The two new offerings exceeded Ascentage’s $126.4m gross, with New York-based Metsera raising $275m from the sale of 15.28 million shares at $18 each. The IPO was downsized from a...

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