Biotech IPO Window Closed In November As Returns And Prices Plunged
This article was originally published in Scrip
Did the window for US initial public offerings by biotechnology companies suddenly slammed shut in late November? Now that everyone's back at work after the Thanksgiving holiday, that appears to be the case, and it doesn't look like the biotech IPO window will reopen anytime soon.
You may also be interested in...
The gene therapy developer described Sanofi's decision to give up ex-US rights to VY-AADC01 as good news, but its stock price fell anyway. Voyager maintains that it wasn't necessarily counting on its partner to opt in, so it has enough funding without Sanofi to conduct a Phase II/III study.
Day three at the BIO International Convention included an off-site visit to Lilly's newly expanded R&D site as well as conversations with Sigilon about the $23m Series A venture funding round it announced that morning and with CytomX about its dealmaking strategy.
Third Rock closed a $616m venture capital fund, exceeding the firm’s goal of $600m to fund newly formed biopharma companies, following Sofinnova and others with new VC and debt funds for early- to mid-stage life science companies. Also, five drug developers raised $256m in new VC cash.