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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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.
Private Company Edition: The allogeneic cell therapy developer founded by former Juno execs launched in January 2019 without disclosing its initial funding. Other recent venture capital mega-rounds include $192m for Orca, $170m for C4, $118m for Shattuck and $102m for GreenLight.
Public Company Edition: Legend Biotech raised $424m in its US public market debut. Also, Pfizer commits up to $500m for equity investments and Allogene capitalizes on ASCO with a $550m offering.