Finance Watch: 2020 Is Four Biopharma IPOs Away From Matching 2019
With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.
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The cancer drug developer was planning to go public later this year, but its series B investor Boxer Capital proposed a merger with its special purpose acquisition corporation, BCTG Acquisition.
Biocon chair believes new perspectives on regulatory science and processes emerging from the US's "Warp Speed" efforts to accelerate COVID-19 vaccines have potential for wider application, although Regeneron's president urges caution around relying only on small studies to advance repurposed drugs.
Private Company Edition: The Alliance for Regenerative Medicine’s half-year report shows the sector raised $10.7bn in the first half of 2020 versus $9.8bn raised in all of 2019. Also, DCVC Bio closed a $350m fund, new incubator opportunities and VC mega-deals for Dyne and Atomwise.