Finance Watch: OncoMed Cuts Costs To Conserve Capital While Public, Private Peers Raise Cash
Executive Summary
OncoMed lays off half its employees after a series of recent clinical setbacks. Meanwhile, six public companies raise $1.64bn in $100m-plus follow-on and debt offerings, SV Health Investors closed a $400m venture capital fund and eight therapeutics firms grabbed $247.5m in VC cash.
You may also be interested in...
Finance Watch: Bitcoin For Biopharma? Agenus Gives BEST A Shot
Investors in a February Biotech Electronic Security Token (BEST) offering will be able to put their money behind a single Agenus asset – the PD-1 inhibitor AGEN2034. Also, financial and strategic updates from Gossamer, Aduro, Novo's REPAIR Impact Fund and more.
Finance Watch: Investors Can't Get Enough Of NASH, Including Start-Ups With Novel Drugs
Terns raised an $80m Series B round for NASH and cancer programs, while 89Bio launched with a $60m Series A to fund drugs for NASH and other liver and metabolic diseases. Also, Stoke leads recent VC deals with $90m Series B.
IPO Update: Returns Rebound As June Sees Its First New Biopharma Offering
MeiraGTx was the first to go public in the US in June after six drug developer IPOs launched in May. With returns for this year's first-time biopharma offerings more than doubling from 9% at the end of April to 23.6% as of June 8, four new companies have filed and six have set terms for future IPOs.