IPO Update: 58 Drug Developers Raised $12.5bn Through Q3
With Four More In Q4, 2020 Total Reaches 62
The average return for companies that went public in the US through the end of September was 49.4% as of 5 October. The fourth quarter started with four additional initial public offerings on 1 October.
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Olema launched this year’s 76th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.
Former Novartis CEO Jimenez co-founded Aditum with former NIBR president Mark Fishman; they raised $133m and are launching Tempero Bio. Also, Atea, Galecto and SQZ went public along with one more health care SPAC, Royalty Pharma upped its Vertex royalty revenues and Mirati’s FOPO raised $926.3m.
CureVac raised hundreds of millions of dollars this year before its $213m initial public offering as its mRNA vaccine technology moved into the COVID-19 spotlight. Its stock price tripled on its debut.