UK's Nightstar NASDAQ Listing Backs British Biotech Build-Up Strategy
The UK developer of gene therapies for inherited eye diseases has listed on NASDAQ, adding to its monetary resources for competing in what is becoming a competitive sector for drug development, and going some way to validating the approach of the UK healthcare investment firm, Syncona, to growing biotech companies.
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There have been eight US biopharma IPOs in 2019, but only three are trading above their launch price – a big change from just three days ago.
Third-quarter biopharma financing, which totaled $12.5 billion, was dominated by follow-on public offerings, which represented virtually half the value. Acquisition activity was headlined by a major move by Gilead in the CART market. Five alliances were signed worth over $1 billion, led by a partnership between two key players, Merck & Co. and AstraZeneca.
The UK biotech plans to move its early clinical-stage anticancers, designed to improve the efficacy and tolerability of established agents, through its R&D pipeline with the proceeds of its recent US IPO.