Finance Watch: Vaccinex, Aridis Launch August's First US IPOs As The Summer Simmer Slows
The summer slowdown finally seems to have hit the US biopharma IPO market; after a hot July with nine offerings, there were just two during the first half of August. Also, Zogenix leads recent follow-ons with a $312m offering; venture capital planted in UK biotechs – Orchard and Blueberry.
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Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.
However, Vaccinex sees possible efficacy for SEMA4D inhibition in later-stage Huntington’s as well as Alzheimer’s disease. Pepinemab is also being studied with Keytruda in head-and-neck cancer.
BioNTech has plenty of cash and is gearing up for an IPO, but money from a Hong Kong investor is in limbo. Plus, Satsuma and SpringWorks bring US IPO total to 34 this year, Fate's FOPO raises $150.5m and Pharvaris brings in $66m.