Finance Watch: One Small Pain Drug Maker And Three Biotech SPACs Launch IPOs
After a brief lull in US initial public offerings, PainReform and three special purpose acquisition companies kicked off September’s IPOs. Also, Immunovant offering grossed $173.9m, Carlyle Group bought 5% stake in China’s Salubris and Erasca increased its series B to $236m.
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In another clear signal that China's innovative drug R&D is coming of age, most global rights to I-Mab's promising early-stage CD47 antibody have been picked up by AbbVie in a deal valued at close to $2bn.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Intercept and Axcella provide updated data on their NASH programs at the International Liver Conference, while CymaBay offers the full dataset for seladelpar in PBC.