Finance Watch: SpringWorks, Satsuma Launch IPOs; BioNTech Filing Shows US-China Trade War Impact
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.
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Initial public offerings by Norbert Bischofberger’s start-up as well as Spruce Biosciences and Shattuck Labs bring the US total to 64 in 2020. Also, the pipeline of health care SPACs is growing, Everest and Genor went public in Hong Kong, Idorsia leads recent follow-on offerings and Corbus cuts jobs.
Private Company Edition: While venture capital invested in the industry dropped in 2019, the number of deals rose as investors funded more early-stage VC rounds. Money continues flowing to large deals as well, including $105m for ALX Oncology and $98m for CANbridge.
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.