IPO Update: Three Biopharma Offerings In January Contrast With Last Year’s Slow Start
AnaptysBio, Jounce and ObsEva were the first three companies to go public in 2017 – all in January – while no therapeutics firms went public in January 2016. The difference? Better US biopharma stock performance.
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Top-line data for the IVF drug look promising but what investors really want to see are the Phase III data for ObsEva's lead product expected later this year in the much larger uterine fibroid market.
Five funds raised more than $1bn to back biotech firms; Arcus leads recent VC rounds with $107m GV-backed Series C; Celgene, Valeant sell notes to retire debt; and Alnylam cashes in on investor goodwill.
Private Company Edition: Life science firms in J&J's JLabs incubators have raised $9.4bn to date from deals and financings, including five IPOs. Also, October brings a wide range of new equity and VC financings.