Finance Watch: Cell And Gene Therapy Firms Raised Nearly $20bn In 2020
Annual ARM Report Shows $19.9bn Raised Globally, A New Record
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.
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Public Company Edition: Eight drug developers launched initial public offerings in the US that grossed $1.46bn combined during the week of 14 to 18 June as biotechnology stock values increased. Also, C4 Therapeutics led recent follow-on offerings, raising $180.8m.
Public Company Edition: The pace of US initial public offerings slowed a bit in April and May but could ramp back up in June as biopharma investor sentiment rebounds. Also, drug developers continue to go public via SPAC mergers, most recently Valo Health with a $2.8bn post-deal valuation.
Biocon is still awaiting a site inspection as pandemic-related delays keep its Viatris-partnered bevacizumab out of the US market, though the Indian company believes it can still make good and garner market share. All eyes are also on traction for its insulin glargine via increased share of formulary contracts.