Finance Watch: Rhythm And OptiNose IPOs Bring 2017 Total To 31, Surpassing 2016
Public Company Financings: Rhythm and OptiNose are the 30th and 31st initial public offerings of 2017. Also, reverse mergers add two more newly public firms, Valeant raises $1bn to pay down more debt, and PhaseRx and Trevena cut jobs.
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Finance Watch: Two New IPOs – IGM In the US, Henlius In Hong Kong – Gross Nearly $600m
Public Company Edition: IGM raised $175m to advance its IgM antibodies and Henlius brought in $410m for its novel drug and biosimilar platforms. Also, Acadia follow-on brings in $250m, PTC sells $350m worth of stock and debt, and Karyopharm royalty deal totals $150m.
Rhythm Preparing NDA Submission In Rare Genetic Obesity Disorders
Setmelanotide reduced feelings of hunger in patients with POMC and LEPR deficiency obesities and helped many lose weight, with some caveats across certain endpoints.
Finance Watch: Rakuten Aspyrian Raises $150m VC Round For Laser-Activated Cancer Drugs
Private investors, including Japanese e-commerce mogul Hiroshi Mikitani, backed a $150m Series C round for Rakuten Aspyrian and its photoimmunotherapy platform. Also, pharma-backed therapeutic video game developer Akili boosts Series C to $68m, and Summit garners additional BARDA funding.