Finance Watch: Olema IPO Raises $209m To Advance OPI-1250 For Breast Cancer
Former AstraZeneca CMO Sean Bohen Helms The Phase I Firm
Olema launched this year’s 75th 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.
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Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.
Public Company Edition: Mergers with special purpose acquisition corporations may be heating up, but in addition to the Surrozen and Tango SPAC deals Recursion and Biomea launched initial public offerings. Also, Organon sells $5.6bn worth of notes to fund spinout from Merck & Co.
Private Company Edition: Venture capital mega-rounds continue a brisk pace with machine learning-based drug discovery firm insitro and gene therapy developer Graphite Bio among recent $100m-plus deals. Also, Argobio raised €50m to fund five start-ups in Europe.