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.
Finance Watch: Metsera, Maze Go Public, Bringing 2025 US IPO Total To Three
Offerings Grossed $275m And $140m, Respectively
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.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.
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Private Company Edition: There have been five $100m-plus VC rounds so far this month, up from three in all of February. Flagship unveiled Lila Sciences with $200m, while Curevo and Insilico raised $110m in series B and E rounds, respectively. Also, Arbor Biotech garnered $73.9m.
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Restructuring Edition: Biopharma companies used fourth-quarter updates to reveal job and program cuts to conserve cash, including Sutro, Agenus, Coherus, Inozyme and Atea. Also, Vincerx’s reverse merger was terminated and Vaccinex, Oncternal, Syros plan to voluntarily delist.
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The highlights of recent comments and insights from industry executives on the key issues covered in Scrip.
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RemeGen is planning to complete enrolment in the global Phase III RemeMG study with telitacicept in generalized myasthenia gravis by the end of 2025 or early 2026. The Chinese firm has already sidelined two other global Phase III trials with the molecule to prioritize the indication.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.