Finance Watch: Genocea, Mateon Shift Strategies, Cut Jobs To Preserve Cash
Genocea shifts to preclinical neoantigen-based cancer vaccines rather than advance a Phase III-ready herpes program on its own and Mateon gives up on its lead drug as placebo outperforms. Also, Juno tops recent public company financings and new VC funds back early-stage firms.
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Public Company Edition: Lilly’s COVID-19 antibody partner AbCellera launched one of the biggest IPOs of 2020, bringing in $483m. Also, two more SPACs went public; Sinovac, Biocryst and Kura Oncology arranged large financings; and Viatris plans post-merger layoffs.
Private Company Edition: Venture capital mega-rounds continue to add up, including recent financings for Connect Biopharma ($115m) and Synthego ($100m). Also, Civilization Ventures closed a new $35m fund and Triumvira launched with $55m.
Public Company Edition: iTeos, Annexon, Nurix and Inozyme went public on 23 July and now CureVac has added its name to the IPO queue for what could be a large offering. Also, BioNTech raises $511.5m as COVID-19 vaccine progresses and PTC gets $650m from sale of risdiplam royalties.