Finance Watch: Two SPAC Deals, Two IPOs Take Four Biopharmas Public
Surrozen Merging With Consonance-HFW Acquisition, Raising $212m
Executive Summary
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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Finance Watch: PTC Secures Up To $1bn In Funding From Blackstone
Public Company Edition: PTC will get $350m up front as part of an initial $500m commitment. Also, while Biohaven and Vaxcyte launched traditional follow-on offerings, Recursion and Agios took the private placement and royalty sale routes, while others revealed job cuts and other strategic updates.
Surrozen Inks First Partnership With BI For Wnt-Targeted Retinopathy Candidate
German pharma takes global rights to preclinical bispecific antibody, while Surrozen will focus on Phase I candidates for inflammatory bowel disease and alcoholic hepatitis.
Pharma Outlook 2022: What Next After A Year Of Innovation And Growth?
The biopharma industry broke records again in 2021 with the amount of money raised for drug development. After a year of rapid growth, what will 2022 bring for market dynamics and R&D catalysts in biopharma?