Finance Watch: Surrozen Raises $33m In $483m February Flurry; Also, Are Reverse Mergers This Year's IPOs?
Surrozen raised $33m to fund drug development programs targeting Wnt ligands for various indications during a February VC financing flurry that occurred despite a drop in IPOs. Taking an alternative route to going public, some biopharma companies have completed reverse mergers in recent weeks and months.
You may also be interested in...
Public Company Edition: Turning Point's offering priced at $18 and its stock closed at $28.90. Also, Achaogen's bankruptcy reflects difficult antibacterial market, Ophthotech's name change follows strategy shift, and Gilead lays off 150 sales reps. Plus, cell and gene therapy FOPOs flourish.
Private Company Edition: The VC firm and start-up factory Flagship Pioneering brings in new cash for existing investments, tapping into investors eager to back "big, bold platform ideas" in the life sciences. Also, new financings include $100m-plus deals for Harmony and Beam.
IPO launches in the US hit a wall in August, but several biopharma firms recently entered the queue, adding new opportunities for investors to chase the industry's outperforming returns.