Venture Funding Deals: ALX Oncology, Transcenta Break $100m Barrier With Recent Rounds
Recent venture capital rounds funded the start-ups Airway, Alladapt, ALX Oncology, Azafaros, CANbridge, NeoTx, Spruce and Transcenta.
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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.
Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.
The performance of 29 biopharma firms that launched IPOs during the first half of 2020 is staggering compared with 28 drug developers that went public in the first half of 2019 with a 10% average return.