FUNDING ROUNDUP: One startup, six public companies raise cash
This article was originally published in Scrip
'Tis the season to raise money, apparently.
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Offerings by Homology, Unum and Genprex at the end of March brought the first quarter's biopharma IPO total to 14 in the US, putting 2018 on track to beat the 2017 total of 42. But with the average return for this year's IPOs dropping, the pace of offerings could slow.
Public Company Edition: It has been almost a month since a biopharma firm launched an IPO in the US, but special purpose acquisition corporations continue to take drug makers public, including Alvotech and Aerami. Outside the US, MaaT closed an IPO in Paris and BeiGene priced a Shanghai offering.
Bristol became a major hematology player through its acquisition of Celgene and it has a multi-pronged plan for maintaining its position as generics approach for Revlimid and other key products.