Interview: iTeos Attracts Investors By Targeting TIGIT
Series B2 Financing Raises $125m
The Belgian biotech has managed to attract considerable sums from venture capitalists over the past couple of years amid hopes that its two next-generation immunotherapies will be best-in-class agents.
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Public Company Edition: iTeos, Annexon, Nurix and Inozyme went public on 23 July and now CureVac has added its name to the IPO queue for what could be a large offering. Also, BioNTech raises $511.5m as COVID-19 vaccine progresses and PTC gets $650m from sale of risdiplam royalties.
Public Company Edition: June has seen 14 initial public offerings by drug developers (and one big biopharma funder) after there were only 15 from January through May – and the month isn’t over yet. Follow-on and other offerings also are hitting the market at a rapid pace.
The 10-year partnership brings Arcus up-front funding with ample earnout opportunities, while Gilead gets extensive opt-in rights and an equity stake it can increase – and potentially a wholly owned dual checkpoint combination.