Rubius Prepares Off-The-Shelf Red Cell Therapies For First Human Trial In 2018
Emerging Company Profile: Rubius Therapeutics is developing genetically engineered red blood cells and has raised $145m to take its first off-the-shelf, long-acting Red Cell Therapeutic into the clinic in 2018.
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Nearly two-thirds of the 67 drug developers that launched an IPO in 2018 were trading below their offering price at the end of the year, bringing the average return to -7.5%. Even so, biopharma companies continue to line up for a US stock market debut.
Public Company Edition: Nine more biopharma companies launched IPOs in the US in July, bringing the 2018 total to 45 first-time offerings – three more than in all of 2017. Bluebird's $632.5m offering leads recent follow-on public offerings.
Venture Capital Edition: A VC investor at a recent conference said it's "hogwash" that venture capitalists aren't interested in funding early-stage biopharma, but the trend toward large financings – such as the $220m raised to date by Rubius – and 2017 investment data suggest otherwise.