Finance Watch: A SPACtacular Week For Biopharma Deals And Dollars
Public Company Edition: Four health care special purpose acquisition vehicles went public and two others announced mergers, but only one biopharma firm priced an IPO during the week of 19-23 October. Replimune’s $250m offering led recent FOPOs.
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The Leeds, UK-based company is looking to the alternative route to the US stock market to fund its live biotherapeutics platform.
The US is to ship only half of doses for Pfizer, Moderna COVID-19 vaccines in the first instance, while Rhizen Pharmaceuticals starts a Phase I trial of a DHODH inhibitor.
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.