Finance Watch: Five Biopharma IPOs Bring US Total To 60 In 2021
Four To Go Public Via SPAC, Including Pardes Biosciences
Public Company Edition: Almost halfway through the year, initial public offerings equal nearly three-quarters of the 2020 total. Also, Pardes is one of four new SPAC mergers; HUTCHMED launched an IPO in Hong Kong; and Zentalis, Theravance and BioXcel launched follow-on offerings.
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Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.
Public Company Edition: It took 256 days for 2021 to surpass the 2020 record of 86 biopharma initial public offerings in the US in one year. Also, Procaps raised $115m ahead of its SPAC merger and aTyr and bluebird raised $75m each.
Only 25 more initial public offerings are needed for 2021 to beat 2020’s record-breaking 86 IPOs. However, the average return for this year’s offerings is just 1.1% as of 1 July versus 11% at the end of the first quarter.