Finance Watch: Two More US Biopharma IPOs And Two New European VC Funds
Two biopharma IPOs in the US continue streak of (mostly) positive returns; two new European VC funds launch as Irish antibiotic developer raises $65m; and Halozyme, Ziopharm price offerings.
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Public Company Edition: An IPO and three big follow-on offerings hit the market but other public companies revealed plans to cut costs or reprioritize their R&D pipelines, signaling that uncertainty remains.
The strategy for both funds is to back companies with a preclinical drug candidate that can be advanced through clinical proof-of-concept with a mid-sized series A round.
Public Company Edition: Among other recent large financings, BridgeBio Pharma launched a $650m note sale, CureVac closed a $517.5m follow-on offering and Revolution Medicines raised $260.9m.