Finance Watch: Two SPAC Deals, Two IPOs Take Four Biopharmas Public
Surrozen Merging With Consonance-HFW Acquisition, Raising $212m
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.
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Public Company Edition: Xilio, Ventyx, MiNK and Context went public in the US and later traded at or above their initial public offering prices. Also, Sarepta raised $500m and Relay grossed $350m in new offerings, while Oncopeptides, Esperion, Zymergen and Ardelyx reorganized and cut jobs.
The UK firm has not completed a clinical trial yet but having raised over $350m from its NASDAQ initial public offering and an extra $160m from a private placement, Exscientia's future looks extremely bright.
While Amicus will transfer the gene therapy portfolio’s R&D risk to Caritas, it retains a financial interest in many of the spinout’s programs. Pompe candidate AT-GAA accepted for FDA review.