4D Pharma Joins The SPAC Trend To Fund Its Keytruda-Boosting Biotherapeutic
A Platform To Attract More Investors
The Leeds, UK-based company is looking to the alternative route to the US stock market to fund its live biotherapeutics platform.
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EcoR1 and Casdin/Corvex took their second and third special purpose acquisition corporations public. Also, Ionis sold notes to buy back older notes and fund operations as it cut 70% of Akcea’s staff. In venture capital, ValenzaBio raised $70m and RA boosted Metagenomi’s series A to $75m.
Biopharma was an attractive investment in 2020 and fundamentals are unchanged in 2021, including the pandemic’s work-at-home requirements, which allowed more companies to go public faster.
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.